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FINANCIAL NEWS
Saudi Arabia’s private sector faces challenges
18 Jun 2016
(MENAFN) Saudi Arabia is turning to the private sector due to the government can’t keep on increasing fast in an era of cheap oil and shrunken state incomes.
Furthemore, the reform plan envisages state spending of almost USD 72bn in the coming five years on projects to spread economy beyond oil.
On the other hand, the private sector’s output was USD320bn last year, while is wasn’t clears that local firms can raise funding at economic rates.
Accordingly, the regional private sector did not have the capacity to take on some of the biggest projects by itself.
More News
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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