Overview of KSA’s Economic Outlook

According to the International Monetary Fund (IMF), Saudi Arabia (KSA) has announced a bold reform program under its Vision 2030. Growth is expected to be robust over the medium-term as structural reforms are implemented. Risks are anticipated to arise from uncertainties regarding future oil prices and the impact on ongoing economic reforms. Moreover, KSA is expected to bring in additional revenues through new taxes and fees, including Value Added Tax (VAT), extra fees on expats working in the kingdom and potential additional costs imposed on foreign businesses.

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