Saudi Arabia’s Economy Set to Grow 4.7% in 2025, Driven by Vision 2030 Projects: Moody’s

RIYADH: Saudi Arabia’s economy is expected to grow by 1.7% this year, with a significant acceleration to 4.7% in 2025, according to Moody’s forecast. This growth is attributed to government-backed initiatives under Vision 2030, which focuses on diversifying the economy beyond oil through investments in sectors such as technology, tourism, renewable energy, and infrastructure.

Moody’s projection surpasses the Saudi government’s 2024 GDP growth estimate of 0.8% and aligns with the Kingdom’s planned $343 billion expenditure for 2025. Key to this growth are large-scale projects like the NEOM city, funded by Saudi Arabia’s Public Investment Fund.

The forecast aligns with similar optimistic projections from the International Monetary Fund and World Bank, with both predicting strong growth for the Kingdom in 2025.