World - Asia
Updated: January 18, 2023

IMF Chief Georgieva Praises Saudi Arabia’s Economy

By Quadri Adejumo
January 18, 2023
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Saudi Arabia is “becoming a bright spot for the world economy”, IMF Chief Kristalina Georgieva said during a WEF panel in Davos.

“When I visited Saudi Arabia, I was incredibly impressed by the progress that the country has made in implementing Vision 2030 and becoming a bright spot for the world economy.

“And that is happening in a particularly difficult time for the world", she noted.

“We have experienced the unthinkable events, the pandemic, war in Ukraine and the consequences in terms of energy and food prices skyrocketing, creating cost of living crisis for hundreds of millions of people", she added.

Georgieva also lauded the country for addressing food and energy insecurity, increase of females in the workforce, as well as investments it is making to secure economic stability in the future.

Saudi Arabia’s female labour participation reached 37 per cent in 2022.