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FINANCIAL NEWS
KSA GDP growth hits 3.8 percent in 2013
17 Mar 2014
(MENAFN) The governor of Saudi Arabian Monetary Authority (central bank) said that the gross domestic product (GDP) in Saudi Arabia grew 3.8 percent last year, The Peninsula Qatar reported.
The International Monetary Fund (IMF) expected that the country”s economic growth to slow down to 4.4 percent in 2013, from 6.8 percent the year before it.
The governor said that the budget surplus in the year hit USD48 billion, representing 6.5 percent of the GDP. The budget surplus came at USD102.9 billion in 2012.
The current account surplus hit USD130 billion, or 17.4 percent of the GDP. Inflation increased to 3.5 percent from 2.9 percent in 2012.
Public debt fell to 2.7 percent of GDP, or USD20 billion or 2.7 percent of GDP.
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