Regional crisis 'not affecting Saudi Arabia's economy' | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.:
"The regional crisis has not affected Saudi Arabia's economy so far as its GDP (gross domestic product) is expected to rise 4 percent in real terms this year, according to Said Al-Shaikh, senior vice president and chief economist of the National Commercial Bank (NCB).
Releasing the D&B Business Optimism Index (BOI) survey for Saudi Arabia for Q3 on Tuesday, Al-Shaikh said: “The positive business outlook is feeding more enthusiasm with companies remaining steady for investment in business expansion. The GDP fall in 2013 compared to 7.8 percent in 2012 is due to lesser oil production.”
In 2012, Saudi Arabia's average oil production was 9.9 million barrels per day (bpd). In 2013, the oil production is between 9.5 million bpd and 9.6 million bpd.
However, “If Syria is attacked, oil prices will reach $125 per barrel depending on the magnitude of the attack and it also depends on how long it prolongs,” Al-Shaikh said."
'via Blog this'
No comments:
Post a Comment