In light of optimistic economic forecasts, discussions are rising about a 5% projected growth in GDP for 2025 as a sign of increasing recovery. This forecast is based on several factors, including strong performance in the oil sector and continued growth in non-oil activities. Under the supervision of the central bank, expectations continue to clarify the trajectory of economic growth, indicating a promising future for the country.
GDP Forecast Update
The central bank has raised its GDP growth expectations from 4.9% previously to a 5% projected growth in GDP for 2025, thanks to strong performance across various economic sectors. Non-oil activities are experiencing sustained momentum, supporting positive growth prospects. According to the “Quarterly Economic Report – December 2025,” growth is expected to reach 5.2% next year.
Growth in Various Sectors
According to the report, GDP recorded a year-on-year growth of 3.9% in the first quarter of 2025, with expectations of this figure increasing to 4.5% in the second quarter. The central bank expects non-oil GDP to grow by approximately 4.9% in 2025, with a slight decline to 4.7% in 2026.
Strong Performance in the Oil Sector
On the other hand, the central bank indicates that oil GDP is expected to grow by about 5.4% this year, rising to 6.7% next year. This growth reflects ongoing global oil demand and stable performance in the energy market. Non-oil GDP shows strong growth, recording a 5.3% increase in the first quarter of 2025, followed by an additional rise to 6.1% in the second quarter.
Overall Performance Analysis
The strong performance of non-oil sectors is attributed to developments in several areas, including financial and insurance activities, manufacturing, and construction. Additionally, improvements are noted in the trade sector, both wholesale and retail. All these factors contribute to achieving a 5% projected growth in GDP for 2025, placing the economy on a solid path toward further stability and growth.