Saudi Arabia: 2012 Article IV Consultation

International Monetary Fund

No 2012/271, IMF Staff Country Reports from International Monetary Fund

Abstract: Saudi Arabia is the world’s largest oil exporter and has employed its spare capacity to help stabilize the global oil market, providing important support to the global economy. The associated increase in oil revenues has resulted in sharply higher fiscal and current account surpluses and provided room to accelerate initiatives to address pressing social issues, including a shortage of affordable housing and unemployment. Spillovers from higher growth and fiscal spending, together with increased financial assistance, have positively impacted the region.

Keywords: ISCR; CR; Mid-June update; surplus; US$; GDP; US$ billion; staff appraisal; IFC Riyadh office; Annex I. fund relation; Oil prices; Oil; gas and mining taxes; Commercial banks; Global; Europe; Africa (search for similar items in EconPapers)
Pages: 48
Date: 2012-09-18
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Citations: View citations in EconPapers (4)

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