to download the complete report - GulfBase.com
to download the complete report - GulfBase.com
to download the complete report - GulfBase.com
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Economic Outlook<br />
Economy<br />
» Saudi economy with calculated exposure in <strong>the</strong> global financial markets seems <strong>to</strong> be more<br />
<strong>com</strong>fortably placed in wea<strong>the</strong>ring <strong>the</strong> global distress. However, being an important part of<br />
<strong>the</strong> intertwined global markets, it is not <strong><strong>com</strong>plete</strong>ly insulated from <strong>the</strong> global slowdown.<br />
» Its ability <strong>to</strong> maintain its economic growth plans on track is evident from <strong>the</strong> government<br />
statements that Saudi Arabia’s important economic development projects would not be<br />
significantly impacted by <strong>the</strong> global financial tsunami, and it has adequate fiscal reserves<br />
(build up over <strong>the</strong> oil boom period) <strong>to</strong> handle <strong>the</strong> current conditions.<br />
» In addition <strong>to</strong> <strong>the</strong> government’s continuing efforts and <strong>com</strong>mitment, support from macroeconomic<br />
fac<strong>to</strong>rs is also believed <strong>to</strong> facilitate <strong>the</strong> Kingdom’s economic growth.<br />
- Easing of inflation<br />
- Low debt <strong>to</strong> GDP ratio<br />
- Strong banking system<br />
- Considerable demand generation from domestic consumption<br />
Global Investment House<br />
14 Saudi Arabia Economic Overview - January 2009
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