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FINANCIAL NEWS
Saudi growth to hit 10.5 percent in 2015
20 Nov 2014
(MENAFN) Saudi Arabia is expected to register a real growth of 10.5 percent in 2015, while its average of growth is expected to hit 8.7 percent over the next five years, Saudi Gazette reported.
This growth will be helped by the transport sector, which is expected to grow by 7.7 percent in 2015, due to the many mega projects being currently done across the kingdom, as well as both the residential and non-residential sector bouncing back to growth, with predictions that both sectors will grow by 9.9 percent in 2015 and that it will average at 7.6 percent up to 2021.
Meanwhile, the energy and utilities sector are expected to have a strong growth, with an average growth between 2014 and 2018 to be at 11.8 percent.
Other sectors which are expected to grow include mobility, Smart government, big data and the Internet of Things (IoT), as well as communications, media and services, banking and securities, government, manufacturing and natural resources.
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