Jadwa Investment’s just-released report on the Saudi economy in 2015 expects growth at a “slower pace” than previous years and “a narrowing current account surplus and a larger than-budgeted fiscal deficit.”
The report, which examines the potential of various sectors within the Saudi economy and the impact of oil prices on growth in 2015, projects economic growth to fall to 2.5 percent in 2015 down from 3.7 percent in 2014. This lower predicted rate of growth is mainly due to an anticipated contraction in the oil sector by -0.6 percent,” the bank said in a note.
