Riyadh – Mubasher: The financial expansion plan, announced by the Saudi government, will boost the kingdom’s non-oil sector, according to a report by Al Rajhi Capital.
The government’s endeavours to support the national economy, coupled with the improvement of oil prices, is a good indicator of the performance of the Saudi economy, the report added.
With the decline of the GCC country’s debt-to- gross domestic product (GDP) ratio, Saudi Arabia can easily issue debt instruments, Al Rajhi noted.
The report revealed that the Saudi non-oil sector added to the economic growth in the third quarter of the last year, led by the financial, industrial, and government services sectors.
However, the construction sector showed weak performance in Q3 due to the decline in capital spending, Al Rajhi Capital said.
