Saudi Arabia’s Economic Growth Expected to Pick Up Again in 2019

Saudi Arabia’s economic outlook is expected to improve further in 2019, although downside risks remain as a result of the global economic slowdown and the impact it could have on oil markets, the kingdom’s central bank said.

The country’s economic growth recovered to 2.2% in 2018 after contracting the previous year, the Saudi Arabian Monetary Authority said in a June 1 report. The rebound was mainly powered by the oil sector, which grew 2.9% while the non-oil sector expanded 1.7% in 2018, compared to 1% the previous year, SAMA said.