Samba issued a mid-year economic report on the Saudi economy wherein it projects another strong record this year. Samba believes the economic boom has just started as the kingdom enters its fourth year of an upward cycle.
Oil revenues are set to amount to US$ 203 bn, reflecting a 25% rise to that generated in 2005. Whereas nominal growth is projected to come in at 20%, real GDP will grow by nearly 6%.
The current account is forecast to register its eight consecutive surplus, recording USD 114 bn.
