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Saudi Arabia economy set to see 7% growth in 2011

 Andy Sambidge, Saturday, 2 July 2011 10:22 AM

Saudi Arabia is set to see economic growth of seven percent this year, before slowing to 4.4 percent in 2012, according to a new report published by QNB Capital.

QNB Capital also forecast that high energy prices will mean that nominal GDP for the kingdom will surpass its previous peak in 2008, reaching $549bn in 2012.

The report said it expects that both the current and fiscal accounts will record higher surpluses in 2011-12 than they did in 2010.

The current-account surplus, which was 17 percent of GDP in 2010, is forecast to post an average surplus of 26 percent of GDP in 2011-12, QNB Capital added.

Read more…

http://www.arabianbusiness.com/saudi-arabia-economy-set-see-7-growth-in-2011-408035.html

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