SAUDI ECONOMY EXPECTED TO GROW 1.8 PERCENTAGE IN 2017

Saudi Arabia’s economic growth is expected to accelerate to 1.8 percent in 2017 from 1.3 percent in 2016

GCC economies are forecast to recover in 2017, except Oman and Bahrain, from a sharp slowdown in 2016 amid public sector spending cuts, tightening liquidity, and investor uncertainty, COFACE – the worldwide leader in trade credit management solutions and risk information services – said in its global and regional economic outlook and sector analysis. All GCC countries except Kuwait, had seen economic contraction in 2016

The Coface analysis shows that UAE growth will pick up in 2017 to reach 2.5 percent up from 2.3 percent in 2016 because this country is more diversified from oil than its neighbouring GCC countries.

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