Publication Date: September 9, 2019. IMF urges Saudi Arabia to mull VAT rate increase. The IMF staff also commended the Kingdoms efforts to mitigate the economic, social, and health effects of Covid-19 Pandemic. PR21/210 IMF Executive Board Concludes 2021 Article IV Consultation with Saudi Arabia FOR IMMEDIATE RELEASE Washington, DC July 8, 2021: On June 30, 2021, the Executive Board of the International Monetary Fund (IMF) concluded the 2021 Article IV consultation1 with Saudi Arabia. Comments on the IMFs concluding statement of Article IV Mission to Saudi Arabia in Arab News, May 9 2021 Comments on Saudi Arabias Shareek investment package in Arab News, Mar 31 2021 Comments on Lebanons low exchange rate in Gulf News, 22 Mar 2021 Officials from Saudi Arabia held a webinar to discuss the recent conclusions regarding the IMFs 2021 Article IV consultation report which lauded the . Released earlier this week, the IMF said strong reform momentum is The International Monetary Funds (IMF) Article IV Consultation Report has concluded that the medium-term economic outlook in Saudi Arabia is promising, reflecting the Kingdoms implementation of structural reforms set in Vision 2030. The IMF announced that the COVID-19 pandemic is leading to severe socio-economic dislocations and hardship despite an unprecedented policy response in the Euro Area on Monday Nov. 30. Real GDP growth is projected to slow to 2.8 percent in 2015, and then further to 2.4 percent in 2016 as government spending begins to adjust to the lower oil price environment. IMF Executive Board Concludes 2021 Article IV Consultation with Saudi Arabia. It is notable that the IMF staff mission has issued previously a statement at the conclusion of the 2021 Article IV consultation for the Kingdom of Saudi Arabia, which was held during April of 2021. The Saudi Ministry of Finance (MOF) welcomed the statement released by the IMF mission that visited the Kingdom in May for Article IV consultations. IMF Executive Board Concludes 2021 Article IV Consultation with Saudi Arabia. Saudi Arabia is likely to use surplus oil revenue to rebuild reserves, breaking with its historical practice of boosting spending when crude prices rise, according to the International Monetary Fund. Officials from Saudi Arabia held a webinar to discuss the recent conclusions regarding the IMFs 2021 Article IV consultation report which lauded the . RIYADH, Saudi Arabia, July 9, 2021 /PRNewswire/ -- IMF staff have reaffirmed the continued recovery of the Saudi economy and the slowdown of the inflation of th The last Article IV Executive Board Consultation was on July 10, 2019. Listed below are items related to Saudi Arabia. A man walking in the Pakistan Stock Exchange building. The pandemic has increased financing needs in Pakistan and other countries across the region. (photo: IMF) 1. Publication Date: July 8, 2021. May 3, 2021. Published: July 09, 2021 10:13 Bloomberg. Saudi Arabias breakeven price for 2021 is expected to be $76.20/b, down from $77.90/b in 2020. The statement underscored the positive results of the Saudi economic reforms, projected continuation in the economic recovery, and expected decline in the unemployment rate and inflation. And the IMF doesnt see oil prices staging a dramatic recovery anytime soon, predicting prices in This 2015 Article IV Consultation highlights that the rising oil prices and production resulted in large external and fiscal surpluses for Saudi Arabia. The IMF statement highlighted the fact that the Saudi unemployment rate is falling and projected GDP growth of 2.1 percent for 2021 and 4.8 percent in 2022, an improvement from 2020s contraction of 4.1 percent. "Volume 2021 (2021): Issue 038 (Feb 2021): Iraq: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iraq" published on 11 Feb 2021 by International Monetary Fund. Saudi Arabia: 2021 Article IV Consultation-Press Release; and Staff Report. The IMF noted that the unemployment rate for Saudi nationals increased to 15.4% in the second quarter of 2020 before declining to 12.6% in the fourth quarter of last year. The Saudi economy entered the COVID-19 pandemic with strong policy buffers and reform momentum. May 3, 2021 IMF, Saudi Arabia. Sudan. Executive directors highlighted that Saudi Arabia entered the COVID-19 pandemic with strong policy buffers and a positive reform momentum. The IMF report said Saudi government spending has risen, supporting growth but raising medium-term fiscal vulnerabilities to lower oil prices. This is paralleled with expectations for real non-oil growth to strengthen to 2.9 percent in 2019 and 3.2 percent over the medium term. Listed below are items related to Saudi Arabia. RIAD, Arabia Saudita, 9 Middle East and Central Asia Dept. April 16, 2020 WASHINGTON, DC the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Jordan. Saudi Arabia's breakeven price for 2021 is expected to be $76.20/b, down from $77.90/b in 2020. The International Monetary Funds (IMF) Executive Board has published the full results of its bilateral consultation with Saudi Arabia, following a summarized release in July. The Saudi economy entered the COVID-19 pandemic with strong policy buffers and reform momentum. The Saudi Ministry of Finance (IMF) welcomed the International Monetary Fund's Executive Boards statement on the 2019 Article IV consultation with Saudi Arabia, during the meeting of July 10. The Saudi economy entered the COVID-19 pandemic with strong policy buffers and reform A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or mission), in most cases to a member country. The pace of recovery will accelerate next year, as the largest Arab economy will expand 4.8 per cent in 2022, after contracting 4.1 per cent in 2020, the IMF said in a statement. The last Article IV Executive Board Consultation was on July 10, 2019. Saudi economy gets an upward growth revision of 2.4% for 2021 from IMF. IMF Article IV Assessment Commends Saudi Arabias Fiscal Objectives and Focus to Improve Non-Oil Growth October 31, 2018 Updates The International Monetary Funds (IMF) Executive Board has published the full results of its bilateral consultation with Saudi Arabia, following a summarized release in July. Finance Minister Mohammed al-Jadaan said that the IMF view shows the Saudi governments progress in implementing economic and structural reforms, as first-quarter budget data showed. RIYADH, Saudi Arabia, July 8, 2021 /PRNewswire/ IMF staff have reaffirmed the continued recovery of the Saudi economy and the slowdown of the inflation of the Consumer Price Index (CPI), stating that they project the non-oil GDP growth will reach 4.3% this year and 3.6 % in 2022. The authorities responded quickly and decisively to the COVID-19 crisis. PR21/210 IMF Executive Board Concludes 2021 Article IV Consultation with Saudi Arabia FOR IMMEDIATE RELEASE Washington, DC - July 8, 2021: On June 30, 2021, the Executive Board of the International Monetary Fund (IMF) concluded the 2021 Article IV consultation 1 with Saudi Arabia.
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