22 Dec 2011
(MENAFN) The International Monetary Fund (IMF) said that as a result of higher oil output and a surge in oil prices, Saudi’s fiscal surplus this year would be expected to reach of 9.4 percent of gross domestic product (GDP) and 8.0 percent next year, reported Arab News.
The IMF added that the Saudi government would also boost spending in 2012, which would be forecasted to reach USD155 billion, on the other hand, it said that the Kingdom’s GDP in 2011 would grow 6.5 percent, while it would decline to 3.6 percent in 2012.
It also said that although the euro-zone’s debt crisis raised the threats to the global economy, which might have negative consequences for the Arab oil exporters, the Gulf Cooperation Council (GCC) countries were in a strong position to undertake countercyclical policies and financial sector support measures to lessen the impact of the crisis.
It is worth noting that for several years, Saudi has been considering a wider opening of the market to foreign investors; however, foreigners only have very limited opportunities to invest through indirect ownership and exchange-traded funds that track indexes.
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more