International Monetary Fund: The Saudi private sector is more resilient and stronger
The Managing Director of the International Monetary Fund, Kristalina Georgieva, praised the fundamental transformations taking place in the Saudi economy, stressing that the private sector in the Kingdom has become a global model in terms of flexibility and ability to adapt to rapid economic changes, thanks to the comprehensive package of structural reforms implemented by the Kingdom.
This came during her participation in a dialogue session organized by the Strategic Management Office at the Saudi House, on the sidelines of the World Economic Forum 2026. Georgieva expressed her great admiration for the Saudi reform process, noting that the diversification of the national economy is no longer just theoretical plans, but has become a tangible reality that includes various vital sectors.
The fruits of Vision 2030 and economic resilience
The international official explained that the Kingdom is characterized by its perseverance and determination in implementing the objectives of "Saudi Vision 2030," a strategy that has established a solid economic foundation. This vision has directly contributed to the growth and prosperity of the private sector, which has transformed from being entirely dependent on government spending to a dynamic entity capable of driving growth and adapting to shocks, thus becoming one of the most prominent sources of success in confronting global financial and geopolitical fluctuations.
Georgieva added that the scale and scope of the reforms undertaken by the Kingdom are very impactful and historic, encompassing the development of all regulatory and legislative areas, and support for various types of companies, from large entities to medium, small and micro enterprises, in addition to enhancing the business environment to be more attractive to foreign and domestic investment.
Empowering youth and diversifying income sources
In a related context, the Managing Director of the International Monetary Fund noted the Kingdom's remarkable success in the field of entrepreneurship, particularly through empowering young Saudi men and women. Social and economic reforms have led to an unprecedented increase in women's participation in the labor market, boosting productivity and raising the contribution of national talent to economic activity.
She also pointed out that the Saudi economic diversification plan extends to include the development of the industrial sector to reduce dependence on oil and gas, in parallel with a comprehensive renaissance in the services, financial services, sports and tourism sectors, which have become an important contributor to the non-oil GDP.
International trust and strategic partnership
Georgieva concluded by emphasizing that the Kingdom's decision to share its successful economic experience with the world reflects growing international confidence in Saudi fiscal policies. She cited the opening of a regional office of the International Monetary Fund in Riyadh as a step aimed at facilitating the transfer and global application of Saudi Arabia's pioneering experience, given the remarkable development witnessed by the Saudi economy across various sectors, which solidifies the Kingdom's position as a pivotal player in the global economy.
