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Saudi non-oil growth forecast to slow in 2025
The Washington-based IMF has projected a non-oil real GDP growth rate of 3.4% for Saudi Arabia in 2025, a decline of 0.8 percentage points when compared to last year. The forecast, which was included in its Article 4 statement on 26 June, reflects the kingdom's ongoing efforts to diversify its economy away from oil dependency, bolstered by robust domestic demand and government-led projects. The outlook is tempered by challenges, including rising debt levels and the need for continued structural reforms. [...]