Live Currency Rates
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi 2012 economy to expand by 5.8%: Jadwa  Join our daily free Newsletter

MENAFN - 30/10/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN) Jadwa Investment stated that in spite of the ongoing global economic slowdown, in 2012, Saudi Arabia's economy is expected to rise by 5.8 percent from earlier forecasts of 5.3 percent, reported Arabian Business.

The Kingdom's hydrocarbon sector will witness a growth of 6.1 percent during the period, whereas growth in the non-oil sector is forecasted to stay solid

Earlier, the company had predicted that Saudi crude oil output would average 9.6 million barrel per day (bpd) during the current year; however, the actual output level has been increased to a near record high, with April and June recording an average production level that exceeded 10 million bpd.

Higher oil output and higher prices, reaching USD109 per barrel, would bring in oil revenues of USD287 billion, that's 44.3 percent of the country's gross domestic product (GDP).

The world's largest oil producer would post a fiscal surplus of USD92.59 billion, representing a rise of 5 percent from the previous forecast.

It is worth noting that Saudi latest purchasing managers' index (PMI) grew to 60.3 points from August to September.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help