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FINANCIAL NEWS
Saudi economic position to remain positive this year
24 Nov 2016
(MENAFN) Financial alliance, linked with improved non-oil revenues will mean a smaller-than-anticipated fiscal deficit in Saudi Arabia in this year and in 2017.
Furthermore, the commencement of a global sovereign bond issuance program will have a dual benefit of protecting FX reserves and cutting pressure on local liquidity.
Accordingly, along with the global bond issuance, many other efforts by the government have halted the sharp rise in the cost of funding.
In addition, the country predicts that overall GDP growth will reach 1.1 percent and 0.6 percent in 2016 and 2017, with oil sector GDP growing by 2.1 percent.
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