Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Economy

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Saudi Finance Ministry forecasts kingdom’s GDP to grow by 7.4%

A picture shows a view of cranes and shipping containers at a loading dock of Jeddah's Islamic Seaport on Saudi Arabia's western Red Sea coast. (Photo by Fayez Nureldine / AFP)
By TRENDS Desk
April 5, 2022 10:56 pm
  • The expected growth is driven by a rise in the oil GDP associated with the Organization of the Petroleum Exporting Countries agreement and the expected improvement in non-oil GDP
  • As the economy continues to recover from pandemic repercussions, the government will continue to enhance the role of the private sector to be the main motivator of economic growth

The Saudi Finance Ministry has forecast the kingdom’s real gross domestic product to grow by 7.4 percent.

The expected growth is driven by a rise in the oil GDP associated with the Organization of the Petroleum Exporting Countries agreement and the expected improvement in non-oil GDP.

As the economy continues to recover from pandemic repercussions, the government will continue to enhance the role of the private sector to be the main motivator of economic growth, the report explained.

Based in Riyadh, the publisher of the report, the Local Content and Government Procurement Authority, was established in 2018 to develop local content at the level of the national economy and improve government procurement efforts.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]