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FINANCIAL NEWS
Saudi’s GDP grows by 1.4pct in Q2
07 Oct 2016
(MENAFN) Saudi Arabia’s GDP grew by 1.4 percent in the second quarter of this year, logging its slowest level of growth since the first quarter of 2013.Moreover, the non-oil sector GDP posted a positive increase after dropping over the past two quarters.Saudi Arabian Monetary Agency pumped USD5.3bn in the banking system on behalf of government entities to ease the liquidity situation in the system.However, foreign reserves assets declined for the third month by 0.2 percent month-on-month in August, against a monthly fall of 1.2 percent.
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