Saudi Arabia’s real GDP to rise 2.6% in 2019: Samba

Saudi Arabia’s non-oil economy reached 2.1% by the end of March

  
The Kingdom Tower seen at dusk in central Riyadh - Saudia Arabia, December 11, 2003. Image for illustrative purposes.

The Kingdom Tower seen at dusk in central Riyadh - Saudia Arabia, December 11, 2003. Image for illustrative purposes.

REUTERS/Peter MacDiarmid

Riyadh – Mubasher: The Saudi gross domestic product (GDP) is expected to grow around 2.6% in 2019, compared to 2.2% in 2018, according to Samba Financial Group’s report on Tuesday.

The Saudi economy witnessed great progress in the previous period pushed by issuing new laws and the potential decrease in interest rate.

In the first quarter of 2019, the kingdom’s economic growth decreased to 1.7%, compared to 3.6% in Q4-18 due to the drop in oil output.

As for Saudi Arabia’s non-oil economy, it reached 2.1% by the end of March, from 1.8% in Q4-18.

Source: Mubasher

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