Weathering all storms, Saudi economy remains strident at SR3 trillion

24/09/2016 (Arab News – KSA): JEDDAH: The Saudis are celebrating their 86th National Day standing on a strong footing, as the Kingdom is ranked among the 20 strong economies in the world.  According to the economists, the Saudi economy is estimated at SR3 trillion, including the SR1 trillion oil industry. They said the economy has certainly created different stages of development, including helping to build the Kingdom’s infrastructure, especially over the last five years when the state invested heavily in mega projects. “In 2002, the Saudi budget was the size of today’s educational budget, and that’s a huge increase,” said economist Abdullah Al-Barak.  He said the Saudi economy “is no longer dependent on oil, which only represents about 40 percent of the economy, in light of the growth of the private sector, and today we have a comprehensive infrastructure that Saudi Arabia will depend on for the next 50 years.”..



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