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FINANCIAL NEWS
Saudi Arabia’s GDP drops by 28 percent
10 Apr 2016
(MENAFN) Standard & Poor’s Ratings Services predicted that KSA’s hydrocarbon sector valued almost 28 percent of GDP last year, down from 42 percent in 2014.
Accordingly, it’s predicted that real GDP growth will average 2 percent per year in 2016-2019, whereas it’s GDP per capita for this year worth USD 18.90mn.
In addition, the rating of the kingdom is encouraged by its strong external and financial stock positions, which will be maintained despite fiscal deficits.
The stable outlook on Saudi Arabia reflects the rating agency’s expectation that authorities will take steps to prohibit any decline in the government’s fiscal position.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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