(MENAFN) Saudi Arabia's Gross Domestic Product (GDP) is set to record 3.5 percent growth this year, remaining unmoved from 2014, according to the International Monetary Fund, Reuters reported.
As the IMF modified their initial 3 percent forecast issued last month, the Fund also predicted that the Saudi budget deficit will be much higher this year after multiple meeting with Saudi officials.
However, the overall economy will continue to register emphatic growth in 2015, little affected by the decline in oil prices, but is projected to slow down next year, the IMF added.
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