Saudi non-oil GDP growth to slow to 2.8 percent this yearSource: www.export-egypt.com 6/26/2016, Location: Middle East |
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Growth in Saudi Arabia's non-oil gross domestic product is expected to slow to 2.8 percent in 2016 from 3.4 percent in 2015, Saudi central bank governor Ahmed al-Kholifey told state television station Ekhbariya.
Kholifey, speaking in an interview broadcast, was responding to a question about Saudi monetary policy and economic growth given global financial market turmoil caused by Britain's decision to leave the European Union. He said the central bank was continuing to monitor key economic indicators, noting that the point-of-sale aggregate, an indicator of consumption, had risen 15 percent year-on-year in May and that a rebound of oil prices over the past few months had helped to support growth somewhat. Repeating a central bank statement issued, Kholifey said Brexit would not have much impact on Saudi financial institutions because of their limited exposure to Britain and their healthy asset quality. |
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