The Ministry of Finance welcomed the press release issued by the International Monetary Fund staff following the conclusion of the 2026 Article IV Consultation, which underscored the resilience of the Saudi economy and its ability to withstand current regional developments, supported by strong economic fundamentals, ample reserves, diversified oil and logistics infrastructure, and sustained reforms under the objectives of Saudi Vision 2030 on June 3.
IMF staff said that the Saudi economy witnessed strong momentum at the beginning of 2026, after real GDP recorded growth of 4.5% in 2025. This was supported by the unwinding of production cuts agreed under the OPEC+ framework, continued strength in non-oil activities driven by domestic demand, sustained positive labor market indicators, and a slowdown in inflation to below 2%.
The press release explained that regional geopolitical developments and disruptions to maritime navigation and shipping affected the economy. Nevertheless, it said that government efforts to facilitate rerouting shipments and reduce logistics bottlenecks contributed to continued momentum in economic activity.
IMF staff said that solid buffers such as low levels of government debt, ample reserves, a strong financial position for the Public Investment Fund, and resilience in banking have enhanced Saudi Arabia’s capacity to absorb shocks and maintain macroeconomic stability. The report also noted government efforts to contain economic impacts from regional developments while advancing fiscal sustainability aimed at supporting growth and private sector development.
The IMF commended resilience in Saudi Arabia’s financial sector with strong capital and liquidity buffers within banks. It welcomed ongoing monitoring efforts by the Saudi Central Bank regarding liquidity, credit conditions, asset quality, as well as prudential measures safeguarding stability. The reform journey launched under Vision 2030 was reviewed positively for strengthening governance and supporting diversification.
Staff also welcomed updates to the Public Investment Fund strategy for 2026–2030 aimed at efficient capital allocation, improving business environment conditions for small- and medium-sized enterprises (SMEs), and deepening capital markets participation from private institutions. The Article IV Consultation press release presents preliminary findings from an official mission conducted under Article IV of IMF’s Articles of Agreement.
