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Saudi Arabia’s economy to grow at least 2% in 2019

Saudi Arabia’s economy to grow at least 2% in 2019

Credit growth accelerated in the first quarter at its fastest pace in more than two years

Saudi Arabia’s central bank expects economic growth to be “no less than 2 per cent” in 2019, its governor said on Wednesday.

He added credit growth has accelerated in the first quarter at its fastest pace in more than two years in a sign of economic recovery.

“Overall the credit extension increased by more than 3 per cent now, the thing that we didn’t see in the last two years,” Ahmed al-Kholifey told Reuters in an interview.

“I would assume that it (GDP growth) will be no less than 2 per cent.”

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