Middle East Economic Survey

VOL. LII

No 37

14-Sep-2009

SAUDI ARABIA

Jadwa Sees Saudi Economic Recovery Pushed Back To Fourth Quarter

Saudi Arabias real GDP growth is expected to decline by 1.0% in 2009, with real private sector non-oil GDP growth slipping to a 10-year low of 2%, according to Jadwa Investment. Over the first eight months of 2009, Jadwa estimates that oil revenues were 57% below their total for the same period of last year. Non-oil exports declined by 22.2%, totaling $10.4bn in the...