Saudi Economy is Expected to Grow by 7% in 2023

  • Riyadh, KSA
  • 4 March 2022
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Saudi Crown Prince Mohammed bin Salman affirmed that "Saudi Arabia is among the fastest growing countries in the world, and the Saudi economy is expected to grow by 7 percent next year."

In an interview with the Atlantic magazine, the Saudi crown prince pointed out that “Saudi Arabia is one of the fastest growing countries in the world, and very soon it will become the fastest growing country in the world. We have two of the ten largest sovereign funds in the world, and the Kingdom has one of the largest foreign currency reserves in the world. Saudi Arabia also has the ability to meet 12 percent of the world's oil demand. Saudi Arabia is located between three maritime straits: The Suez Strait, the Bab al-Mandab Strait and the Strait of Hormuz, and overlooks the Red Sea and the Arabian Gulf, and through it, approximately 27 percent of world trade passes.”

The Secretary, Mohammed bin Salman, explained, “The total Saudi investment in America is $800 billion, and in China, up to this time, we have invested less than $100 billion, but it seems to be growing there very quickly. American companies also have a great focus on the Kingdom of Saudi Arabia, as we have more than 300,000 Americans in Saudi Arabia, and some of them have both nationalities and reside there, and the number is increasing every day, so the interests are clear, and it is up to the United States whether you want to win Saudi Arabia or lose ".

Source (Al-Arabiya.net Website, Edited)

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