IMF Middle East director: Saudi economy is vibrant

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00:00So, Saudi's efforts to diversify and boost non-oil growth,

00:06I mean, how do you rate the performance overall?

00:10Well, over the last few years, certain number of reforms

00:13have helped Saudi not only to grow the economy,

00:16but also to reduce unemployment.

00:19Unemployment is at the lowest level in decades,

00:23especially at the youth level.

00:24Women's participation in the economy increased from 14% to 34% in five years.

00:30And this is despite the various shocks, COVID, the inflation shock,

00:34the uncertainty that we are living through.

00:38Therefore, Saudi economy is vibrant, dynamic,

00:41and reforms have been very much impacting positively the outcome of the economy.

00:47Of course, the oil sector is still an important component of the economy,

00:51but the development of the non-oil sector,

00:54the development of a certain number of new activities

00:56are helping the economy to diversify not only the GDP,

01:01but also the state revenues.