1Q 2021 Results Presentation - Bank of the Future
KSA Economic Outlook
Covid-19 pandemic disruptions have eased
Highlights
IMF has revised up 2021 GDP growth forecast to 2.9% driven by
recovery in oil prices and economic activities.
■ Saudi is keeping its fiscal expenditure at the budgeted level.
■ Average inflation is forecasted to be 2.9% in 2021.
Expenditure/Revenue and Asset Reserves (SARbn)
1,862
926
696
1,862
1,873
GDP Growth / Brent Oil Price
54.13
-0.7
2017
71.19
64.37
41.69
2.4
0.3
-4.1
2018
2019
2020
مصرف الراجحي
Al Rajhi Bank
62.28
60.49
2.9
4.0
2021
2022
IGDP Growth, constant prices (%) --Brent Crude (USD/bbl)
Source: IMF, U.S. Energy Information
3M SAIBOR / Inflation
2.6%
3.40%
2.90%
1,701
2.0%
1,655*
-0.9%
-0.1%
1,079
1,076
906
1,059927
990
782
849
955 864
2017
2018
2019
2020
General government total expenditure
SAMA asset reserves
Source: MoF, SAMA
Al Rajhi Bank
2021
General government revenue
* Feb. 2021 figure
1Q 2021 Results Presentation
1.8%
2.5%
2.6%
1.2%
0.7%
0.8%
2022
2017
2018
2019
2020
2021
2022
3M SAIBOR (average %)
-Inflation, average consumer prices %)
Source: SAMA, IMF, MOF
6
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