Riyadh – Mubasher: Saudi Arabia’s short-term economic prospects seem weak, amid forecasts that the scheduled economic amendments may not be implemented, Indosuez Wealth Management said in a recent research.
The Kingdom’s nominal economic growth was near stable during 2017, the global wealth management division of Crédit Agricole added.
The Saudi deficit may remain large due to a rise in oil prices, as well as the increase in expenses in the 2018 budget.
Indosuez stated that the introduction of the value added tax (VAT) will help boost the Kingdom’s economy, noting that population growth rate may help in improving the economy.
The wealth management arm of the French bank said that the fall of oil prices has weighed on the UAE which benefits from a more diversified economy.
