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FINANCIAL NEWS
Saudi hidden economy to grow to USD142 b in 2014
06 May 2014
(MENAFN) Saudi volume of hidden (“underground”) economy is expected to hit USD142.245 billion in 2014, according to Arab News.
The growth is believed to result from the absence of clear-cut regulations on how to tackle the issue and ineffectiveness of wage control programs, notably in small and medium enterprises (SMEs).
Economic expert Fahad bin Jumaa said the rate (share) of hidden economy in the Saudi gross domestic product (GDP) reached more than 18 percent.
The volume of hidden economy is expected to reach USD142.245 billion this year, according to the World Bank (WB) estimates.
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