DUBAI: The International Monetary Fund (IMF) expects growth in Saudi Arabia to slow to 2.1% in 2023 on the back of OPEC+ production cuts announced in April, it said in a statement on Wednesday, lower than its latest forecast released in May.

The Fund had forecast Saudi GDP growth at 3.1% last month. The Saudi economy grew 8.7% last year, as high oil prices boosted revenue and led to the kingdom’s first budget surplus in almost 10 years.

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