Riyadh- Mubasher: Saudi’s National Transformation Programme’s (NTP) total cost that will be incurred by the private and public sectors amounts to SAR 447 billion, according to a recent report by Saudi’s Jadwa Investment. (avoiding the double possessive)
Jadwa estimated that the government will bear a cost of SAR 268.4 billion from the total cost of the NTP, while the private sector is to contribute with the remaining 40%, which equals SAR 179 billion.
The Ministry of housing and the Royal Commission for Jubail and Yanbu will benefit the most from governmental finance, as a part of the transformation programme, receiving SAR 100.8 billion (37.5% of the total expenses).
Jadwa has modified some of its expectations for 2016 and 2017 to reflect the effects of the initiatives included in the NTP.
It expects that actual gross domestic product (GDP) will reach 1.7% and 2.4% in 2016 and 2017, respectively, down from the 3.5% in 2015.
The macroeconomic growth is forecasted to become moderate during 2016, before rising in 2017 after the NTP initiatives’ impacts take effect. Oil’s GDP annual rate is seen to slow down to 0.9% in 2016 from 4% in 2015.
