Macroeconomic Update - Pick-up in non-oil activity
Macroeconomic ReportOur economic forecast for the Kingdom has been revised down wholly on the account of developments related to the oil market. Whilst we previously expected overall growth to hit 2 percent in 2019, a downward revision in oil sector GDP means that we now see growth at around 1.6 percent.
Macroeconomic update – November 2018
Macroeconomic ReportThe fundamentals of Saudi economy remain unaltered and we expect solid growth in the next few years. Accordingly, we still expect the economy to grow by 2.2 percent in 2018 (compared to -0.9 percent in 2017), with an improvement in the oil sector lifting oil GDP to 3.2 percent in 2018.
Macroeconomic update- June 2017: (Mild improvements in the Saudi economy, but risks remain)
Macroeconomic ReportWe have revised our 2017 forecasts to take into account the recent set of oil production and economic data. We forecast overall GDP growth to be 0.1 percent in 2017 (compared to 1.4 percent in 2016) due to a sharp decline in oil sector GDP, by -1.2 percent (compared to 3.4 percent in 2016). More positively, we forecast non-oil GDP to reach 1 percent during the same period (compared to 0.2 percent in 2016).
