Saudi economy to grow 3.5 per cent this year

27 September 2010

Government spending and higher oil prices drive growth

The Saudi Arabian Monetary Agency (Sama) has said the kingdom’s economy is expected to grow 3.5 per cent this year due to government spending and higher oil prices, Bloomberg has reported. “The role of the state’s fiscal policy during this year and last year has been large,” Sama governor, Muhammad al-Jasser said in a press conference in Riyadh. “Its influence on the private sector and other sectors will be good.”

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