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FinancialNews
12-10-21
Saudi Arabia: value of contracts increases USD6.9B in 2021
(MENAFN) When Saudi Arabia remained to recover from the global pandemic, the worth value of contracts awarded in the second three months of 2021 increased to SR25.8 billion (USD6.9 billion) in the Kingdom.
The latest quarterly report by the US-Saudi Business Council showed that the number figure marks the third quarter in a row of progression after the stoppage caused by the pandemic was at its most relentless in the third three months of 2020.
The worth of contracts awarded in the April-June period of 2021 increased by 134 percent year ago and by 34 percent quarter-on-quarter.
The council points to increasing costs and material lacks in the “fragile” construction sector that may affect domestic growing over the next months.
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