The Organization for Economic Co-operation and Development said that the Kingdom’s gross domestic product (GDP) is expected to rise by 3.9 percent in 2024, according to a report in Arab News.
The OECD said that Saudi Arabia’s inflation rate is expected to average 2.1 in 2024.
The gross domestic product (GDP) measures of national income and output for a given country’s economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time.
The annual inflation rate in Saudi Arabia slowed for the third consecutive month to 2% in August 2023 from 2.3% in the previous month, slightly below market expectations of 2.1%, Trading Economics said in a recent update.
The OECD report forecasted that Saudi Arabia will be among the only a few countries with economic growth above 3 percent in 2024.
