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On the back of the very good Bloomberg article published yesterday by Javier Blas (🇸🇦Saudi Arabia and 🇮🇷Iran Become Unlikely Bedfellows) - one of our analysts, Syed Osama, shares his vision about Saudi Arabia's challenges. 🇸🇦Saudi Arabia’s economy is at a critical juncture as it navigates lower oil revenues while advancing its Vision 2030 diversification plan. The kingdom recently reduced its 2024 growth forecast to 0.8%, down from 4.4%, and anticipates a budget deficit of 2.9% of GDP due to declining oil prices, which currently sit below the country's fiscal breakeven of $96 per barrel. 🇸🇦Saudi Arabia faces the challenge of balancing its Vision 2030 goals with maintaining fiscal sustainability amidst declining oil revenues and budget deficits 👇 Read More: https://lnkd.in/eJ_-YF6f Written by Syed Muhammad Osama Rizvi and published on EklipX Research

Saudi Arabia will need an average oil price of $96.20 a barrel to balance its budget this year, according to the IMF. That is a 21% increase in the estimated breakeven oil price from a previous projection in October. Bloomberg’s Economist Ziad calculates the Saudi state may need oil prices closer to $108 a barrel to fund its spending, and that forecast takes into account domestic investments by the kingdom’s sovereign wealth fund. Oil is now trading just above $85 a barrel while the current price for Brent futures is near $89 per barrel, lower than both the IMF and Bloomberg’s estimates of levels the Saudi government needs to achieve equilibrium in its fiscal balance.

🚀 UAE Leads the Way in Economic Growth! 🚀 Exciting news from the Khaleej Times! The UAE is set to maintain its position as the fastest-growing economy in the GCC for 2024 and 2025, thanks to its ability to increase oil output ahead of other Opec+ countries. With a projected GDP growth of 3.3% this year and a remarkable 5.5% in 2025, the UAE continues to surpass its regional peers. For realtors and property agents, this means a thriving market and endless opportunities. As the economy grows, so does the demand for quality housing and commercial spaces. At InstaShow, we are here to help you capitalize on this growth. Our platform simplifies property showings, making it easier than ever to close deals and meet the rising demand. Ready to boost your business? Let’s grow together in the UAE’s booming market! 🌟 🌐 Learn more: www.instashow.today 📖 Read the full article: Khaleej Times #UAEGrowth #RealEstate #Instashow #EconomicBoom #PropertyMarket #GCC #OpecPlus

Are you looking for business opportunities in the #MiddleEast, particularly in the #UAE? Send us a private message and let's discuss the possibilities. The UAE will maintain its position as the fastest-growing #economy in the #Gulf Cooperation Council (#GCC) region in 2024 and 2025 as it will be able to raise #oil output sooner than other oil-producing countries in the #Opec+ group, economists said. James Swanston, economist for the #Mena region at Capital Economics, projected that the UAE’s #GDP will grow 3.3% this year and 5.5% in 2025, surpassing its Gulf peers as well as wider regional countries.

Saudi Arabia’s oil revenue is seen rising to 2026 before declining quicker than previously expected through to the end of the decade, according to the International Monetary Fund. Oil revenue will rise to 783 billion riyals ($209 billion) to make up about 26% of gross domestic product in 2026, the IMF said in a report after its annual consultations with the Saudi government. The earnings are seen dipping to 778 billion riyals in 2029, 4.1% less than earlier estimates. The IMF also supported Saudi Arabia's decision to cut back on some spending, and urged the government to make public the impact of this. It also recommended further spending adjustments through trimming subsidies, the public sector wage bill, and boosting income through measures to generate more non-oil revenue.

The International Monetary Fund (IMF) said on Monday the United Arab Emirates was experiencing strong economic growth, with overall real GDP projected to grow by about 4% this year, higher than earlier estimates. The IMF had projected GDP growth for the Gulf oil exporter at 3.5% in 2024 in its most recent Regional Economic Outlook report, published in April. "Foreign demand for real estate, increased bilateral and multilateral ties, and the UAE’s safe haven status continue to drive rapid growth in housing prices and an increase in rents, while adding to ample domestic liquidity," the statement said. Overall economic growth would likely be further supported by higher hydrocarbon GDP growth this year, in part driven by higher crude oil production from the UAE’s OPEC+ quota increase, it added. The UAE - one of the world's top oil exporters - has accelerated plans to diversify its economy away from hydrocarbons and draw foreign investment, with non-oil GDP now The IMF said that accelerated public and private investment and structural reforms, including in areas such as renewable energy and technology, "could spur growth more than expected." . . . #DubaiNews #Dubai #DubaiRealEstate #DubaiGDP #UAEEconomy #DubaiMarket #RealEstateNews #DubaiInvestments #EconomicGrowth #DubaiBusiness #DubaiDevelopment #DubaiProperty #InvestmentOpportunities #DubaiEconomy #RealEstateMarket #DubaiTrends #UAERealEstate #DubaiUpdates #FinancialNews #MarketGrowth #PropertyInvestment #DubaiFinance #RealEstateTrends #BusinessInDubai #UrbanDevelopment

International Monetary Fund slashes Saudi Arabia's 2025 growth forecast to 3.2%, marking a sharp 1.3 percentage point reduction from October projections as OPEC+ production cuts weigh on the kingdom's economic outlook. While regional growth remains above global averages, the revision challenges Riyadh's ambitious growth targets. Tap the link to read more on the shifting dynamics of Gulf economies and the rest of the region. https://lnkd.in/dZ-e9KGA

Today's economic news is quite concerning as Saudi Arabia has announced that it is cutting its GDP forecasts and expecting deeper budget deficits. The country's efforts to overhaul its economy are costing more than they anticipated, leading to a challenging financial situation. 📉 What are your thoughts on this development? How do you think it will impact the global economy and the price of oil? Do you believe Saudi Arabia will be able to recover from this setback? 💭 #EconomicNews #SaudiArabia #BudgetDeficits

Saudi Arabia is ahead of G7 #economies in purchasing power parity GDP per capita, a position unlikely to change through 2030. Although our projections show that #Saudi Arabia will improve in economic size, it is forecast reach the top 18 globally, rather than its target of top 15, by 2030. Read our latest research on #EmergingMarkets: https://okt.to/b1JTq7