Cautious Saudi bankers give reality check on country's economic health | Reuters

Cautious Saudi bankers give reality check on country's economic health | Reuters:

"Saudi Arabia’s banks are preparing for muted lending growth this year, providing a reality check on the state of the country’s economy and government efforts to stimulate growth.

Saudi Arabia unveiled its Vision 2030 plan in 2016 to transform the country’s economy, which is still suffering the after effects of the slump in oil prices, recession and austerity measures to cut the state deficit.

“Vision 2030 is in the future, but we’re dealing with the reality of now,” said one senior Saudi banker. “We’re having to be more careful and client demand is weak anyway.” "



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