Saudi Arabia’s gross domestic product expanded 6.6 percent in the fourth quarter from a year earlier on additional government spending and higher oil prices.
The government sector grew by 3.6 percent and the private sector by 9.9 percent, the Central Department of Statistics and Information in Riyadh said on its website today. The oil industry expanded by 6.1 percent.
Saudi Arabia’s economy benefited last year from a 23 percent increase in government spending as the kingdom’s rulers sought to create jobs and build houses in order to avert the kind of popular uprising that swept other Middle Eastern countries.
That is a good and very appreciable news for the people as well as government of Saudi Arabia.Government must find other ways to gain more by using natural sources.
ReplyDelete