Middle East Economic Survey

VOL. LII

No 34

24-Aug-2009

SAUDI ARABIA

Strong Fundamentals Shield Saudi Economy From Financial Crisis, Says IMF

Saudi Arabias real GDP in 2008 grew by 4.4% buoyed by a sustained broad-based expansion in the non-oil sector of 4.3% and higher oil production, according to the IMF in a public information notice published on 18 August following Article IV consultation concluded on 13 July. Inflation, after accelerating in the first half of the year to rise to 11.1%...