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Sat 22 Feb 2020 12:14 PM

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Saudi Arabia's economy to see upturn this year, says central bank governor

Growth this year will be faster than in 2019, 'especially in the private sector', according to central bank Governor Ahmed Alkholifey

Saudi Arabia's economy to see upturn this year, says central bank governor
Ahmed AlKholifey, the governor of the Saudi Arabia Monetary Authority, 

Saudi Arabia’s GDP growth is projected to see an upturn this year, due mostly to progress in growth in the non-oil sector, central bank Governor Ahmed Alkholifey said.

Growth this year will be faster than in 2019, “especially in the private sector,” the Saudi Arabian Monetary Authority governor told reporters during a conference in Riyadh.

  • Saudi banking sector seeing growth in mortgages, as well as lending to individuals and SMEs: Alkholifey

  • “Too early to tell” of the impact of coronavirus on Saudi’s economy: Alkholifey

  • On the global front, “major central banks are left with limited policy headroom to maneuver” and “unexpected tightening of financial conditions could have serious consequences for the real economy,” Alkholifey says

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