MEcon | March 2025 Edition

Saudi Arabia

The Kingdom recorded a 4.5% GDP growth in Q4 2024, marking its strongest annual performance in two years. Meanwhile, the non-oil PMI moderated to 58.5 in February 2025 from January’s record highs, yet remains firmly in expansion territory. S&P upgraded Saudi Arabia’s sovereign credit rating from 'A' to 'A+' with a stable outlook, recognizing the Kingdom’s economic diversification progress aligned with Vision 2030 objectives. Additionally, the non-profit sector’s economic contribution continues expanding toward its 2030 target, complemented by workforce participation initiatives, including pioneering programs such as a maternity fund for professional tennis players.

United Arab Emirates

Non-oil GDP growth of 4.5% outpaced oil sector expansion of 1.6% in the first nine months of 2024, driving economic growth to 3.8%. Government initiatives targeting the advancement of residents’ living conditions align with national strategic objectives, potentially generating economic returns beyond immediate social benefits. Furthermore, digital transformation efforts spanning transport to charitable operations support the UAE's technology adoption goals, while enabling improved delivery of social outcomes.

Qatar

GDP growth accelerated to 6.1% in Q4 2024 from 2.0% in Q3, bringing full-year growth to 2.3%, with the non-hydrocarbon sector expanding by 3.4%. Consumer prices entered deflationary territory in January 2025. Moreover, successful bond issuances and banking sector expansion signal robust investor confidence, providing capital foundations for continued economic diversification efforts.

Download the full issue to find out more.