Riyadh - Mubasher: Jadwa Investment raised its forecasts for the Saudi Arabian economy’s growth in 2018 to 2.2%, compared with previous estimates for a growth rate of 1.5%.
Rising oil prices supported the new expectations, according to the research firm’s monthly report for July, which was released on Wednesday.
Crude oil prices remain near its highest level in more than three years.
Jadwa expects Saudi production of crude oil to reach 10.3 million barrels per day this year, up from 10.1 million barrels per day in 2017.
