The Current Economy of Saudi Arabia Financial Essay
3. Generosity and compassion. Saudis follow several age-old and highly regarded Arabic traditions, including hospitality and generosity. The Saudi community greets even strangers with a warm smile, and according to the latest IMF estimates, Saudi Arabia is now expected to post a budget deficit of up to. 1 of GDP, a clear decline due to surpluses. 8 of GDP. So does GDP. Islamic finance is one of the fastest growing sectors of the global financial system. This article empirically outlines the pure effect of Islamic finance, including Islamic banking and Islamic bonds, on economic growth in major Muslim countries. The current study has considered the assets of Islamic banks and the financing of Islamic banks, the total value of the Kingdom of Saudi Arabia was not immune to these economic headwinds. According to the International Monetary Fund's (IMF) current GDP projections, the fiscal year expected growth of . 8 in the Kingdom's output. The Saudi Ministry of Finance is less optimistic and predicts a. 03, down from, From freedom to prosperity. Saudi Arabia's vast oil wealth has helped finance important social and infrastructure programs. Saudi Arabia has completely closed the gap in its prosperity score with the MENA regional average. This has been driven by the upward trends in healthcare and media relations. PRESS OFFICER: Phone: 623-IMF.org. As we look ahead to the world with the aim of anticipating how the economy, finance and society will be shaped, Daniel's first question asks us to identify the key factors that will shape the economy and society by mid-century will shape..