Alibrahim on Saudi Arabia's GDP Growth

Core Insights - Saudi Arabia's economy is projected to grow by 4.8% to 5.1% in 2025 and 6.5% in 2026 [1] - Non-oil activities now constitute 56% of real GDP, surpassing oil and government sectors for the first time [1] - Vision 2030 aims to reduce reliance on oil and government spending by promoting private sector innovation and technological advancement [1] Economic Growth Projections - Total GDP growth is expected to be 4.8% to 5.1% in 2025 [1] - GDP growth is projected to reach 6.5% in 2026 [1] Sector Composition - Non-oil activities account for 56% of real GDP [1] - This marks the first time non-oil activities have surpassed oil and government sectors [1] Vision 2030 Objectives - The initiative focuses on reducing dependence on oil and government spending [1] - Emphasis is placed on fostering innovation, productivity, and technological advancement in sectors such as AI, healthcare, energy, and defense [1] - Some mega-project targets, particularly in tourism, have been achieved ahead of schedule, with certain targets met seven years early [1]