Riyadh – Mubasher: The International Monetary Fund (IMF) affirmed Saudi Arabia’s economic growth rate at  7.6% in 2022, compared to 3.2% last year, according to the World Economic Outlook report.

The IMF predicts that the Kingdom’s growth rate will plunge to 3.7% in 2023, while the Consumer Price Index (CPI) will likely decline to 2.2% in 2023 from 2.7% in 2022.

Earlier in October, Kristalina Georgieva, Managing Director of the IMF, stated that the fund will establish a regional office in the Kingdom to reinforce its development activities.