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FinancialNews
30-01-18
KSA: short-term economic prospects to not seem profitable
(MENAFN) Indosuez Wealth Management has released a new study that found Saudi Arabia's short-term economic outlooks "do not look brilliant albeit not catastrophic".
Throughout last year, nominal economic development in the kingdom was "barely positive", the research showed.
The UAE on the other hand was found to be gaining considerable profit from further diversified economy.
It said "rebounding global trade will help Dubai, as will tourism. However, as long as the UAE maintains its currency peg to the US dollar, the UAE has to follow the Fed's upward move in interest rates which will put a cap on growth."
MENAFN3001201800450000ID1096405532
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