Crown Prince: Saudi economy to grow by 7% in 2023

Saudi Crown Prince Mohammed bin Salman said that Saudi Arabia is among the fastest-growing countries in the world and that the Saudi economy will grow by 7% next year.

In an interview with the Atlantic magazine, the Saudi crown prince added, “We have two of the ten largest funds in the world, and the kingdom has one of the largest foreign currency reserves in the world, and Saudi Arabia.” Saudi Arabia has the ability to provide 12 percent of the world’s oil, and it has one of the largest global cash reserves.

The Kingdom is situated between three main straits; Suez, Hormoz, and Bab Al-Mandab, and it overlooks the Red Sea and Arabian Gulf through which 27 percent of world trade passes.

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