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IMF announced that the Kingdom is slated to be the second-fastest-growing economy, after India, with a forecast for Saudi Arabia’s economic growth in 2025 to be 6%. Recent researches indicated a four-fold increase in the speed at which companies are entering the market (Business Expansion Activity) in 2024 compared to 2018. Favorable government policies have boosted market confidence, leading to an increase in new business registrations. In Q1 of 2024, 104,000 commercial registrations were recorded, up 59% from a year ago, bringing the total number of registrations to over 1.45 million across the Kingdom. Non-oil economy now constituting 50% of the country’s GDP, equivalent to SAR 1.7 trillion ($453 billion) at constant prices, is set to make up 65% of the country’s GDP by 2030.
Of Business Expansion Activity
Fastest-Growing Economy
For Business Establishment and Development
Expected Growth of Non-oil Sectors in GDP by 2030
23 April 2025
(Riyadh)
26 April 2025
(Zoom)
30 April 2025
(Zoom)
07 May 2025
(Zoom)
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