Saudi economic growth forecast raised to 5.5% by 2027, reflecting resilience

Osama Kurdi, chairman of the National Committee of the International Chamber of Commerce at the Federation of Saudi Chambers, said that the consensus among three major international organizations on the strength of Saudi Arabia’s economic performance, and their decision to raise growth forecasts for 2027, reflect confidence in the country’s economic trajectory and its ability to sustain growth despite geopolitical challenges.

Speaking to Al Ekhbariya TV, Kurdi explained that the international organizations’ forecasts confirm the positive outlook for the Saudi economy, with growth expected to accelerate in 2027. He said this demonstrates the resilience of the economy and its capacity to continue expanding amid global economic challenges.

The International Monetary Fund has raised its forecast for Saudi Arabia’s economic growth to 5.5% in 2027, supported by a recovery in both oil and non-oil activities, ongoing effective investment and government spending, and continued structural reforms under Saudi Vision 2030.

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Kurdi believes that the alignment among international organizations and the upward revision of growth estimates are indicators of confidence in Saudi Arabia’s ability to maintain economic growth, despite ongoing geopolitical and economic challenges facing the global economy.