Saudi non-oil GDP maintains healthy growth: Al-Jadaan

Minister of Finance Mohammed Al-Jadaan

Minister of Finance Mohammed Al-Jadaan said Saudi Arabia’s non-oil gross domestic product (GDP) maintains healthy growth and this is expected to continue in the medium term.

Speaking at the Future Investment Initiative (FII) conference, the minister said the Kingdom focuses on the growth of non-oil domestic product, which is key to Vision 2030.

He added that the non-oil GDP grew by 6.1% in the last quarter, expecting the growth to reach nearly 6% by the end of the year and to hover around this level in 2024.

Commenting on the risks of international economic fragmentation, Al-Jadaan said the Kingdom is working with several countries and international organizations such as the G20, the International Monetary Fund (IMF), the World Bank, and the Islamic Development Bank to encourage international cooperation.