3Q 2022 Results Presentation
KSA Economic Outlook | Improved economic conditions compared to 2021
Highlights
GDP Growth/Brent Oil Price
104.2
96.9
•
IMF maintains a 7.6% and 3.7% GDP growth forecasts in 2022 and
2023, respectively
71.2
70.9
64.4
•
GDP grew by 12.2% in 2Q 2022 driven by higher oil prices and recovery
in non-oil activities
7.6
41.7
2.4
0.3
3.3
3.7
•
Average inflation estimated to be 2.6% in 2022 and expected to
normalize in 2023 to 2.1%
Expenditure/Revenue and Asset Reserves (SARbn)
1,862
1,873
1,701
1,708
1,715*
1,079
1,059
1,076
1,039
1,132'
1,222
1,114 1,123
906
927
965
782
2018
2019
2018
2019
-4.1
2020
2021
I GDP Growth, Constant Prices (%)
Source: IMF, U.S. Energy Information
3M SAIBOR / Inflation
2022
2023
Brent Crude (USD/bbl)
3.4%
3.3%
2.6%
2.6%
2.1%
-0.1%
5.0%
3.2%
2.5%
2.6%
1.2%
0.8%
2020
2021
2022
2023
2018
2019
2020
2021
2022
2023
Government revenue
SAMA asset reserves
3M SAIBOR (average %)
-Inflation (average consumer prices %)
August 2022 figure
Source: SAMA, IMF, MOF
Government expenditure
Source: MoF, SAMA
3 Q 2022 Results Presentation
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