IMF Praises Saudi Arabia's Resilience in Face of Middle East War
The International Monetary Fund (IMF) has assessed Saudi Arabia's economy as resilient in the face of Middle East war. The Gulf kingdom's strong macroeconomic fundamentals and diversified oil and logistics infrastructure have allowed it to weather disruptions caused by the conflict.
In its Article IV consultation, IMF economists praised Saudi Arabia's agility and resilience in the midst of the war that erupted in February with US and Israeli strikes on Iran. Despite retaliatory attacks on Saudi and its neighbors, the economy has shown a strong ability to adapt.
The war has had a significant impact on trade and shipping through the Hormuz Strait, a key waterway for oil exports. However, the IMF notes that 'a recovery is expected to take hold once maritime traffic through the strait gradually returns.'