Saudi Arabia’s economy in a ‘sweet spot’, says US bank

Saudi Arabia’s economy in a ‘sweet spot’, says US bank:

"The Saudi Arabian economy is in a “sweet spot”, with higher oil prices allowing the Kingdom to boost spending while not having a significant impact on the country’s fiscal balance, according to Bank of America Merrill Lynch Global Research.
“Our meetings on Saudi Arabia comfort us in our view that the economy is in a sweet spot. Higher oil prices are allowing the focus on boosting activity not to materially impact fiscal balances,” the note said, published following the IMF and World Bank Spring meetings held in Washington DC this month.
“With a more entrenched current account surplus possible this year, FX reserves could increase this year,” the note said."



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