Global growth is expected to remain steady but subdued through 2026 and 2027, with Saudi Arabia’s oil rebound and diversification efforts set to drive the Gulf’s resilience, says Moody’s Ratings
Saudi economy
Latest in Saudi economy
Davos in the Desert
Saudi to scale back state spending, boost private investment as startups draw $1bn – minister Al-Falih
Investment Minister Khalid Al-Falih says Saudi is entering a new phase of economic diversification, with $1 billion deployed into startups and 60% of Middle East venture funding now originating in the kingdom
Ministry of Investment - Saudi Arabia
Saudi Arabia has achieved 85% of its Vision 2030 target six years ahead of time
Minister of Investment Khalid Al-Falih says Saudi has already crossed the target for number of regional headquarters and for women in workforce
Moody’s Investors Service
Saudi Arabia’s Vision 2030 faces its credit ceiling as foreign funding rises – Moody’s
The kingdom’s trillion-dollar transformation is now constrained less by oil prices than by liquidity pressures, with banks and state-backed companies turning to global markets to plug funding gaps, Moody’s says
Ministry of Finance - Saudi Arabia
Saudi Arabia unveils $350bn 2026 budget plan
Saudi Arabia’s 2026 pre-budget projects $350bn spending and $305bn revenues, with 4.6% GDP growth forecast and a 3.3% deficit
AlUla
Watch how Azimuth 2025 transforms AlUla into a global music stage from sunset to dawn
AlUla Shines: Azimuth 2025 Brings Together International Music Stars for Unforgettable Nights
Red Sea Global
Saudi Arabia’s Red Sea Global opens first three luxury resorts on Shura Island
The phase one launch includes three hotels – SLS, EDITION, and InterContinental – alongside Shura Links, Saudi Arabia’s first island golf course
economic outlook
IMF lifts Saudi Arabia’s 2025 growth forecast to 3.6%
The Fund also raised its 2026 projection for the Kingdom to 3.9%, anticipating a sustained pickup in economic activity before growth stabilises at around 3.5% in the medium term
Air Arabia
New Saudi low-cost airline to launch from King Fahd International Airport
Air Arabia, Nesma Group, KUN Holding will partner to launch the new Saudi Eastern Province airline
Saudi Arabia
Saudi Arabia announces new work permit system for expats
The new work permit system in Saudi Arabia has taken effect for incoming expat workers as of July 1
Amaala
Saudi Arabia’s Red Sea Global ‘on track’ to open AMAALA, 11 resorts fuelled by ‘surging’ investor demand
The next 6 to 12 months will see “continued evolution” of Red Sea Global’s offerings, Ahmad Darwish, Group Chief Administrative Officer said
Aramco
BlackRock reportedly talking to Aramco to sell stake in pipelines business
The American investment company had acquired 49% of the entity that holds leasing rights over Aramco pipelines for $15.5bn
GaStat
Saudi Arabia’s economy grows 3.4% in Q1 2025 as non-oil sector leads the way
Non-oil activities surge 4.9 per cent as Saudi Arabia advances diversification strategy
Attestation services
UAE tax rule; May petrol prices revealed; Trump Tower in Dubai; Viral chocolate maker speaks out – 10 things you missed this week
UAE and Saudi tax updates; Dubai viral chocolate maker interview, May petrol prices revealed, Trump Tower coming to Sheikh Zayed Road and more news stories
Saudi economy
Saudi non-oil exports passed $137bn last year
Saudi Arabia recorded record non-oil exports in 2024 as national economy diversifies
Saudi Arabia
Bupa Arabia launches Saudi Arabia’s first ‘no-pre-approval’ health insurance model
The company also announced plans to significantly expand the ‘no-pre-approvals network’ in 2025, with the addition of 15 to 20 hospitals across various regions of the Kingdom
