Saudi Arabia Records Highest Growth Levels among the G20 Countries

Saudi Arabia Records Highest Growth Levels among the G20 Countries

The IHS Markit Index predicted that the Saudi Arabian economy will record the highest growth levels among the G20 countries in the fourth quarter of 2021, a wide gap of about 4.5 percent from its closest competitor, Italy.

The achievement reflects the efficiency of the economic reforms taken by the Kingdom since the launch of its Vision 2030.

The positive figures come in light of the unlimited support and direct supervision of Crown Prince Mohammad bin Salman, who is also chairman of the Council of Economic and Development Affairs, demonstrating the strength and efficiency of the economic reforms undertaken by the Kingdom since 2016.

The reforms had a significant impact on overcoming the consequences of the COVID-19 pandemic with minimal damage despite sharp declines in oil prices.

The high levels of growth of the Saudi economy come when many countries, including major economies, are still struggling to overcome the repercussions of the pandemic, which are no less than the effects of World War II.

Saudi Arabia's success in achieving great economic growth rates, outperforming G20 countries, is primarily due to the economic plan of Crown Prince Mohammed. It had a significant role in overcoming global challenges, namely the coronavirus pandemic and the decline in