Macroeconomic Forecast Saudi Arabia

July 2008 | Macroeconomic Forecasts

We expect real GDP growth to push higher in 2008 and 2009, to come in around 4.0% and 4.3% respectively, on the back of non-oil sector expansion, increasing oil production and a jump in global oil prices. Indeed we expect the OPEC Basket to average US$121.5/bbl in 2008, up from US$69.0/bbl in the previous year.

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