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FINANCIAL NEWS
Saudi private sector’s contribution to GDP to hit 58.7 percent in 2014
24 Dec 2013
(MENAFN) The Saudi Finance Ministry said the contribution of the Saudi private sector to the gross domestic product (GDP) is expected to go over 58.75 percent this year, Arab News reported.
The Kingdom’s GDP is expected to grow by 3.8 percent in 2013, following a 5.5 percent increase in the year before.
The oil sector is expected to drop by 0.61 percent, while the government sector to grow 3.73 percent and the private sector by 5.5 percent.
Components of the nonoil GDP all registered positive growth this year, especially the industrial sector, construction, and transport, storage and communication which expanded by 4.72 percent, 8.11 percent and 7.2 percent respectively.
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