Banque Saudi Fransi has said the private sector in the kingdom is expected to recover to 3.7% in 2010, but will remain below the 4.7% of 2008, prior to the global financial crisis, Reuters has reported. The growth will be driven mainly by state spending and bank lending, the lender said. The private sector accounts for about 46% of the kingdom's Gross Domestic Product (GDP). Private sector growth hit a 14-year low of 2.5% in 2009.
You might also like...
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
Algeria signs oil deal with Swedish company
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.