SAUDI ARABIA

Samba Sees Saudi GDP Up 3.8% In 2012

Samba said in its latest report that Saudi Arabia’s GDP will climb 3.8% in 2012 on the assumption that Libyan oil output recovers. However, the bank said that Saudi production could be even higher as the EU presses ahead with its ban on oil imports from Iran. It predicts that the kingdom will see higher growth in 2013, and puts this at 4.5%. In 2011 the growth rate was 6.8%, the highest since 2003, with much of this attributable to...