Saudi economy ‘very healthy’, non-oil activities highly promising: Alibrahim

Faisal Alibrahim Minister of Economy

Saudi Arabia’s economy is very healthy, and growth in non-oil activities is very promising, Faisal Alibrahim, Minister of Economy and Planning, told Asharq News on the sidelines of the World Economic Forum (WEF) in Riyadh.

There are new contributors to the non-oil sector growth, with other sources being targeted in the near and medium term, he added.

In 2023, non-oil activities, for the first time, accounted for about 50% of the real gross domestic product (GDP), indicating serious transformation and effective performance.

He pointed out that this is just the beginning because the opportunities being created today under Vision 2030 and partners from around the world in the Kingdom's transformation story are only in the cradle.

Alibrahim added that official forecasts, according to the budget statement, indicate a 4.4% growth in the Kingdom's GDP and a rise of 4-5% in non-oil activities.

These forecasts are continuously updated, and the most important thing is the growth of non-oil activities and their sources, he said.