IMF’s Georgieva praises Saudi Vision 2030 reforms as highly successful
The Managing Director of the International Monetary Fund
(IMF), Kristalina Georgieva, has lauded Saudi Arabia's steadfast commitment to
economic reforms, attributing the nation's current economic stability to these
reforms, even amidst global economic uncertainties.
Georgieva also commended the remarkable progress in Saudi
Arabia's non-oil sector.
These statements were delivered during her participation in
a session on the second day of Riyadh's prominent annual investment conference,
the FII.
IMF
appreciates Vision 2030 to keep Saudi economic and fiscal position strong
The IMF had previously forecasted continued growth in the
non-oil sector for 2023, with an expected average growth rate of 4.9% for that
year.
The IMF welcomed the ongoing economic transformation in
Saudi Arabia, attributing it to the commendable reforms outlined in the
"Saudi Vision 2030" initiative.
In a prior statement to Asharq Al-Awsat, the IMF had
anticipated a 4% growth in the Saudi economy by 2024, highlighting the
country's diversification of revenue sources and its adoption of a medium-term
fiscal management strategy, which significantly boosted revenues.
IMF:
Saudi Arabia's economic growth driven by diversification efforts
Furthermore, the IMF pointed out that these measures had a
positive impact on the economy.
Georgieva affirmed that Saudi Arabia had demonstrated
exceptional performance over the past five years, despite the challenges faced
by the oil sector this year.
She emphasized the need for Saudi Arabia to remain committed
to implementing structural reforms and highlighted the crucial role of Saudi
women in driving this transformation.
Georgieva mentioned that the participation of Saudi women in
the workforce has exceeded the targets set by Vision 2030, reaching
approximately 36% today. One of Vision 2030's objectives was to raise women's
participation in the workforce from 22% to 30%.
Georgieva outlined Saudi Arabia's focus on supporting youth,
promoting entrepreneurship, and reducing youth unemployment rates.
She concluded by stating, "It's prudent to look ahead
to 'Vision 2040' in the next two years. We are on a journey akin to climbing a
mountain, and as we approach the summit, the ascent becomes more challenging.
Nonetheless, we persist in our ascent."
Source: https://english.aawsat.com/
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