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Sunday, 16 July 2017

Swiss investment bank UBS says Saudi Arabian economy is stabilising - The National

Swiss investment bank UBS says Saudi Arabian economy is stabilising - The National:

"The Swiss investment bank UBS said that Saudi Arabia's economy appears to be stabilising ahead of its possible inclusion in the MSCI Emerging Markets stock index even amid volatile oil prices and regional conflicts.  Economists at UBS are predicting that GDP growth for the country's economy will stabilise at about 1 per cent this year and that its currency, which is pegged to the US dollar, will remain unchanged at 3.75 Saudi Arabian riyals over the next 12 months.  “Despite the geopolitical situation, we expect the Kingdom’s economic growth to stabilise and its deficits to shrink,” said Ali Janoudi, head of wealth management for Central & Eastern Europe, Middle East and Africa at UBS and vice chairman of UBS Saudi Arabia.   "



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