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| 12 July, 2018

Saudi economy to grow 2.2% in 2018

Jadwa Investment raised its forecasts for the Saudi Arabian economy’s growth in 2018 to 2.2%, compared with previous estimates for a growth rate of 1.5%

Image used for illustrative purpose.
Buildings stand as automobile traffic moves along the King Fahd highway, left and Olaya Street, right, in Riyadh, Saudi Arabia.

Image used for illustrative purpose. Buildings stand as automobile traffic moves along the King Fahd highway, left and Olaya Street, right, in Riyadh, Saudi Arabia.

Getty Images/Simon Dawson/Bloomberg

Riyadh - Jadwa Investment raised its forecasts for the Saudi Arabian economy’s growth in 2018 to 2.2%, compared with previous estimates for a growth rate of 1.5%.

Rising oil prices supported the new expectations, according to the research firm’s monthly report for July, which was released on Wednesday.

Crude oil prices remain near its highest level in more than three years.

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Jadwa expects Saudi production of crude oil to reach 10.3 million barrels per day this year, up from 10.1 million barrels per day in 2017.

Source: Mubasher

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