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FINANCIAL NEWS
Saudi Arabia posts USD 500bn worth of projects
08 May 2016
(MENAFN) Saudi Arabia proclaimed USD 500bn worth of projects this year in the pre-execution phase spanning the power and water, transport, hydrocarbons and construction sectors.
Furthermore, the kingdom is planning to drive the non-oil economy and stimulate private investment in state activities, while Riyadh will increase the private sector’s GDP to 65 Pct.
Additionally, Saudi Arabia will also increase the non-oil government incomes from USD 43bn to USD 267bn by the end of the coming decade.
The kingdom also emphasized the challenges that firms need to avoid, as it forges ahead with its economic development plan for the coming 14 years.
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