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FinancialNews


  • 30-12-18

    Saudi Arabia to hit 2.5 percent economic growth in 2020

    (MENAFN) Saudi Arabia is forecast to see its economic growth in 2020 hit 2.5 percent, compared to this year's 2.3 percent.

    National Bank of Kuwait (NBK) made the projection, noting that the Saudi government is already backing non-oil businesses in achieving record public spending, investment and private sector stimulus plans.

    The Saudi economy, the NBK affirmed, has been witnessing a rebound following a contraction in 2017, with an expectation to stand at 2.3 percent of growth this year.

    The bank added that the Saudi non-oil sector is expected to record an annual average profit of 3.2 percent by 2020.

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