2Q 2023 Investor Presentation
KSA Economic Outlook | Economic conditions remain positive for the Kingdom
Highlights
•
GDP grew by 1.1% in 2Q 2023 driven by higher non-oil activities
•
IMF revised down Saudi's GDP growth forecasts to 1.9% for 2023 and
2.8% for 2024
•
Inflation eased to 2.7% in June 2023 and expected to normalize in 2024
to 2.3%
Expenditure/Revenue and Asset Reserves (SARbn)
1,873
1,701
1,708
1,724
1,662*
1,268
1,164
1,059
1,076
1,039965
1,114 1,130 1,125 1,146
927
782
2019
2020
GDP Growth/Brent Oil Price
99.0
83.5
79.5
70.9
64.4
8.7
41.7
0.3
3.3
1.9
2.8
-4.1
2019
2020
2021
2022
2023
2024
I GDP Growth, Constant Prices (%)
Brent Crude (USD/bbl)
Source: IMF, U.S. Energy Information
3M SAIBOR / Inflation
-0.1%
3.4%
3.3%
2.5%
2.8%
2.3%
5.8%
5.1%
3.2%
2.6%
1.2%
0.8%
2021
2022
2023
2024
2019
2020
2021
2022
2023
2024
Government revenue
SAMA asset reserves
3M SAIBOR (average %)
Inflation (average consumer prices %)
*June 2023 figure
Source: SAMA, IMF, MOF
18
8
Government expenditure
Source: MoF, SAMA
2Q 2023 Investor PresentationView entire presentation