FY20/21 Investor Presentation
KSA Economic Outlook | Improved economic outlook compared to 2021
•
Highlights
GDP grew by 3.3% in 2021 driven by recovery in economic activities
and supported by oil prices. IMF forecasts Saudi Arabia's economy to
expand by 4.8 percent in 2022
•
.
MoF forecasted a budget surplus of 2.5% of GDP in 2022, the first since
oil prices crashed in 2014, driven by oil prices recovery and rising crude
production, as well as improved outlook for economic activities
Average inflation estimated to be 3.3% in 2021 and expected to
normalize in 2022 to 1.3% as the impact of VAT increase fades
Expenditure/Revenue and Asset Reserves (SARbn)
1,862
1,862
1,873
1,701
1,708
1,079
1,059
1,076
926
906
927
1,015930
9551,045
782
696
2017
2018
General government expenditure
2019
2020
I General government revenue
Source: MoF, SAMA
FY20 21
Investor Presentation
GDP Growth/Brent Oil Price
71.2
54.1
64.4
0.3
2.4
41.7
75.0
70.9
4.8
3.3
-0.7
-4.1
2017
2018
2019
2020
I GDP Growth, Constant Prices (%)
2021
Brent Crude (USD/bbl)
2022
Source: IMF, U.S. Energy Information
3M SAIBOR / Inflation
3.4%
3.3%
2.6%
1.3%
-0.1%
-0.9%
2.5%
2.6%
1.8%
1.2%
0.8%
1.5%
2020
2021
2022
2021
2022
2017
2018
2019
SAMA asset reserves
13M SAIBOR (average %)
Source: SAMA, IMF, MOF
25
Inflation (average consumer prices %)
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