Growth of 3.1% for 2023 versus 8% in 2022

Budget based on Brent oil price around $76/b: Al-Rajhi Capital

Country needs $69/b oil price in 2023 to balance budget: IMF

Saudi Arabia has forecast lower GDP and tax revenues, including crude oil revenues, for 2023 as the world’s largest oil exporter bases its budget on a conservative scenario that takes into account the global economic outlook.

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