Saudi Arabia's economy is expected to pick up in 2019 but a global economic...
ABU DHABI - Saudi Arabia’s economy is expected to pick up in 2019 but a global economic slowdown and its potential impact on the global oil market could impact growth, the Kingdom’s central bank said.
The main risk for the Saudi economy comes from its exposure to the global oil market. The oil sector accounts for some 45% of Saudi GDP and more than 63% of government revenue. In April the International Monetary Fund estimated that Saudi economic growth in 2019 may be slightly higher than its earlier 1.8% forecast due to the faster expansion of the non-oil sector compared to the wider economy
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