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World Bank sees Saudi growth at 2.5% this year, down from its previous estimate of 4.1%. Oil production caps are to blame.
The multilateral lender expects the local economy to grow 5.9% next year
A slower buildout of Neom?
Some 2.4 of 170 km to be completed by 2030
Non-oil business activity remained strong in March 2024
The output sub-index rose to 62.2 in March, up from 61.5 in the previous month
Robust non-oil growth this year, with inflation peaking at 2% in 2H 2024 — Capital Economics
CE warned of a major risk in case of a plunge in oil prices under USD 70 a barrel
Zakat collection regulations get an update
The amendments include setting a minimum and maximum threshold for zakat collection
Webinar report: From oil to real estate, banking, and education, where’s what S&P says Saudi corporates can expect through the end of 2024
Non-oil activity in Saudi is poised for robust growth at around 5%
Non-oil economy accounted for 50% of GDP last year — a record high
Non-oil activity rose 4.4% y-o-y last year
S&P affirms Kingdom’s A/A-1 rating with stable outlook
A growing non-oil sector investment and solid growth in consumption will help keep overall GDP growth at 3.3% on average…
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