The World Bank has increased its 2025 forecast for Saudi Arabia’s economic growth from 4.2 percent in January to 5.9 percent.

However, the bank reduced its initial projection of 4.1 percent for the Kingdom’s gross domestic product growth in 2024 to 2.5 percent in its most recent study. Concurrently, the 2025 estimate has been changed to 4.7 percent from 3.8 percent, while the aggregate GDP growth forecast for the Gulf Cooperation Council countries in 2024 has been lowered from 3.6 percent to 2.8 percent.

The report also revised the GDP growth estimate for the United Arab Emirates, which was earlier predicted to grow by 3.7 percent to 3.9 percent in 2024 and then by 4.1 percent in 2025.