Economic growth in Saudi Arabia will accelerate next year thanks to higher oil output after two years of modest performance, according to a Reuters poll of economists, who also forecast robust growth for other Gulf Cooperation Council (GCC) states.

The International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2024 to 1.5% and estimated growth to accelerate to 4.6% next year in its latest World Economic Outlook Report released on Tuesday.

This revised forecast is also a considerable decrease from the 3% growth the IMF had anticipated for Israel in early October last year. Looking ahead to 2025, the IMF reduced Israel’s growth projection to 2.

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GDP in Latin America and the Caribbean is set to grow 2.1% this year, three-tenths of a percentage point more than projected in July, the International Monetary Fund said on Tuesday, after revising growth forecasts for the region's two largest economies.

The UK economy is set to "accelerate", the International Monetary Fund (IMF) has said as it raised its growth forecast for this year. The influential global organisation now expects the UK to grow by 1.