Saudi foreign trade to grow 5.5 percent in 2015

27 Dec 2014

(MENAFN) Saudi policies have been 100 percent successful as evidenced by the largest budget in the country’s history for 2015, which envisages USD229 billion spending during the new year, Arab News reported.

In 2015, foreign trade is expected to grow at a rate of 5.5 percent, as compared to 5 percent last year, according to Saudi Arabian Monetary Agency (SAMA).

The country’s nonoil exports are expected to reach a total value of USD55.38 billion in the current year, marking an increase of 3.1 percent from the last fiscal year.

“This budget proves that the Saudi economy remains free from the implications of fluctuations in global oil prices due to policies on economic diversification,” head of the Saudi-Indian Business Council said.

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