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FinancialNews


  • 18-06-16

    Saudi Arabia's private sector faces challenges

    (MENAFN) Saudi Arabia is turning to the private sector due to the government can't keep on increasing fast in an era of cheap oil and shrunken state incomes.

    Furthemore, the reform plan envisages state spending of almost USD 72bn in the coming five years on projects to spread economy beyond oil.

    On the other hand, the private sector's output was USD320bn last year, while is wasn't clears that local firms can raise funding at economic rates.

    Accordingly, the regional private sector did not have the capacity to take on some of the biggest projects by itself.

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