IMF
Before the March reforms, the pound was officially pegged at 30.85 to the U.S. dollar, but traded as low as 74 on the black market
Expenditure amounted to $61.25 billion, with a budget deficit of 3.6 percent
Saudi Arabia's GDP contracted by 0.4 percent annually primarily driven by the 8.5 percent annual decline in oil activities
The decision follows a positive economic assessment since the program's launch in December 2022
For the Middle East and Central Asia, oil production and regional conflicts continue to weigh on prospects
