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FINANCIAL NEWS
Non-oil private sector in Saudi Arabia to grow by 1.2pct
20 Jun 2017
(MENAFN) The non-oil private sector in Saudi Arabia is projected to increase at almost 1.2 percent compared to 0.1 percent last year.
Accordingly, the current issuance of Islamic bond and the reinstatement of allowances for public sector employees should help lift or at least stabilize.
Moreover, while higher year on year oil prices should support increase oil revenue, this is projected to be lower than previously predicted.
The financing of this year deficit will, in order of stated priority by government, be done amid raising global debt, local debt and drawing down of foreign exchange reserves.
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