A Reuters poll revealed expectations for Saudi Arabia's economy to grow 1.4% this year, compared to previous estimates of 2.6%. The estimates also indicate the Kingdom's economy will grow 6% next year.

Days earlier, the International Monetary Fund cut its forecast for Saudi economic growth in 2026 by 1.4 percentage points to 1.7%, compared to its previous expectations, while raising its growth forecast for 2027 by 1.0 percentage point to 5.5%.

The adjustments come amid the Fund's expectations of changes in the global economy and energy markets, with continued impacts of geopolitical factors and oil production developments on crude-exporting economies.

The Reuters poll reported expectations for the UAE economy to contract 0.5% this year compared to previous stability, and to grow 5.8% in 2027.

Bahrain's economy is expected to contract 5.1% this year compared to previous estimates of 2.9%.

The poll results showed Kuwait's economy contracting 8.1% this year compared to previous estimates of 4.4%.

Advertisement

Advertisement