Hossam Abougabal, MEEDs Construction Reporter talks about the progress being made to turn around the giant Saudi economy
After one of the worst years on record, companies in Saudi Arabia were looking forward to a strong recovery in 2017 on the back of higher oil prices.
But it has not turned out that way. At least, not so far.
Contract awards are down compared with one year ago and the IMF downgraded its forecast for growth in the kingdom in 2017 in April.
Yet, in the past few weeks, things appear to be changing. One year on from the launch of Vision 2030, the MEED team discusses the progress being made to turn around the giant Saudi economy and their thoughts on the outlook for the kingdom.
Based on the findings of MEEDs latest report on Saudi Arabia, published on 30 April and featuring the latest data, MEED considers the opportunities and challenges ahead for businesses in the kingdom.
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