Riyad Capital sees KSA economic growth down to 0.9% in 2016

Riyadh – Mubasher: Riyad Capital expected a slowdown in the Saudi economic growth in 2016 to go down to 0.9% compared to 3.4% in 2015.

The Saudi economic growth is likely to record the same percentage in 2017 (0.9%), as a result of a decline in the oil and non-oil private sectors' growth, the research firm said.

The report pinpointed that the latest estimates released by the International Monetary Fund (IMF) sees a 3.1% growth rate for 2016 and 3.4% for 2017, reasoning that to that economies of the emerging markets.

The growth domestic product of the Saudi economy grew 1.4% in the first half of 2016, while the oil sector decreased 1.6% I the second quarter of the year after the sharp rise of 5.1% in the first quarter. The non-oil private sector slightly went above the zero level in the second quarter, the report noted.

Mubasher Contribution Time: 30-Nov-2016 13:59 (GMT)
Mubasher Last Update Time: 30-Nov-2016 13:59 (GMT)