saudi to see stable growth
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Saudi to see stable growth

Arab Today, arab today

Arab Today, arab today Saudi to see stable growth

Abu Dhabi - Arabstoday

Saudi Arabia’s economy recorded high growth in 2011 and is expected to maintain good performance through 2012 unless tension escalates in the Gulf because of Iran’s nuclear programmes. Barring tensions, the economy of the world’s dominant oil power will not be affected by global turmoil given its massive overseas assets, which could peak at more than $636 billion at the end of 2012, Saudi Arabia’s largest bank, National Commercial Bank (NCB) said in its weekly bulletin. “The Saudi economy witnessed a stellar performance last year and is expected to maintain its trajectory for 2012,” it said. “The geopolitical tensions in the Gulf region remain a key risk factor to be considered for growth prospects. As global turmoil continues to hinder economies worldwide, Saudi is expected to maintain stable growth.” NCB said last year’s sharp expansion in GDP in nominal and real terms was driven by the surge in oil prices, higher crude production, robust domestic demand, and prudent macroeconomic policies. The non-oil private sector was stimulated by the series of royal decrees announced in 1Q2011, amounting to around SR400 bn in supplementary spending, with an estimated SR110 bn to have been spent in 2011. NCB noted that last month Fitch rating agency affirmed the Kingdom’s long-term rating at an investment grade AA- with a stable outlook as the economy is expected to expand at 3.9 per cent this year, largely driven by the expansion in the non-oil sector and partially by increased oil production. It said Saudi Arabia’s reliance on a single revenue source, oil, might affect sustainability on the long run. But it added that the country’s massive reserves in minimal risk assets guarantees the commitments the government has made towards balanced development. “Net foreign assets are expected to reach $636.7 bn this year as the accumulation of US-denominated assets increase with growing Revenues,” the report said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi to see stable growth saudi to see stable growth

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi to see stable growth saudi to see stable growth

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday