The latest IMF forecasts downgrade Saudi growth for 2017 to just 0.1% (from 0.4% three months earlier) and to 1.1% (from 1.3%) for 2018.
The IMF’s 24 July update to its April World Economic Outlook, blames “Saudi Arabia’s commitments under the Opec+ agreement” for the underperforming GDP, though this is based on a methodology which considers the (negative) effect on Saudi GDP of lower oil volumes, whilst excluding the (positive) effect of higher oil prices which the IMF treats as an unrelated externality (MEES, 20 January). (CONTINUED - 1700 WORDS)
