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.

Saudi Arabia, which forecasts decade-long economic growth of 8% in 2022, projects its GDP growth to slow to 3.1% in 2023, the finance ministry said in a preliminary budget report for 2023 released on Sept. 30 became.

The International Monetary Fund predicts…