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FINANCIAL NEWS
Saudi Arabia economy to recover by 2017
31 Jul 2016
(MENAFN) Saudi Arabia’s GDP growth is forecasted to slow to 1.2 percent this year, but will recover to 2 percent in 2017.
Additionally, inflation grew in recent months to more than 4 percent an energy and water prices increased and will ease to 2 percent in 2017.
However, the fiscal deficit is predicted to narrow to 13 percent of GDP this recent year, while non-oil revenues are predicted to grow.
On the other hand, the recent account deficit will narrow to 6.4 percent of GDP and will move to balance by 2021 as oil prices partially recover.
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