Investor Presentaiton
Operating Environment
Supportive KSA macro-economic environment
Average Monthly Oil Prices (US$/bbl)
Oil Demand Outlook (mmbd)
104.0
Real GDP Growth (% Y/Y change)
SNB
140
+20.0
103.2
120
+15.0
103.0
102.5
100
95
89
+10.0
101.8
80
102.0
+5.0
60
101.0
+0.0
40
100.0
100.0
99.6
20
99.4
-5.0
+4.8
+0.2
-6.6
0
99.0
-10.0
Sep-13 Sep-15 Sep-17 Sep-19 Sep-21 Sep-23
2013
2015
2022
2023F
Brent
-WTI
ΠΕΙΑ
■IEA
■ OPEC
Real GDP
2017
Oil Activities
2019
2021
9M 23
Non-Oil Activities
Non-Oil GDP (% Y/Y change)
9.0
Inflation (%)
Fiscal Balance
5.0
300
10.0
4.0
200
5.0
6.0
3.0
100
O 2.6
0.0
2.0
0
3.0
0.0
-3.0
1.0
-100
-5.0
0.0
-200
-10.0
-1.0
-300
-15.0
-2.0
-400
-6.0
-3.0
-500
-20.0
2013 2015
2017
2019
2021
2023F
2013 2015
2017
2019
2021
2023F
2013 2015 2017 2019
Fiscal balance (SARbn)
2021
2023F
% of GDP (RHS)
SNB 3Q 2023 | Investor Presentation
Macro-economic Indicators Sources: SNB Economics, KSA MOF, Thomson Reuters, Bloomberg, EIA, IEA, OPEC
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