Private sector growth must increase in Saudi Arabia

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While government growth in Saudi Arabia continues to meet industry targets, private sector growth must increase if the Kingdom hopes to employ its residents.  Analyses by Banque Saudi Fransi says that growth must exceed 6.5% a year in the private sector, but it only is growing at a rate of 4% right now.  Saudi has a rapidly increasing population, and features a growing percentage of young residents who need to be assured of enough jobs.

Saudi’s longtime reliance on oil has both hindered and helped it.  As demand increases and prices rise, government sector growth has increased.  Yet proper investment in the private sector was overlooked for a period, and the Kingdom is now working to correct that.  Financing its many expansions in industry and property development needs to be backed by the private sector to ensure growth.

 

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Reading Time: 1 minute

While government growth in Saudi Arabia continues to meet industry targets, private sector growth must increase if the Kingdom hopes to employ its residents.  Analyses by Banque Saudi Fransi says that growth must exceed 6.5% a year in the private sector, but it only is growing at a rate of 4% right now.  Saudi has a rapidly increasing population, and features a growing percentage of young residents who need to be assured of enough jobs.

Reading Time: 1 minute

While government growth in Saudi Arabia continues to meet industry targets, private sector growth must increase if the Kingdom hopes to employ its residents.  Analyses by Banque Saudi Fransi says that growth must exceed 6.5% a year in the private sector, but it only is growing at a rate of 4% right now.  Saudi has a rapidly increasing population, and features a growing percentage of young residents who need to be assured of enough jobs.

Saudi’s longtime reliance on oil has both hindered and helped it.  As demand increases and prices rise, government sector growth has increased.  Yet proper investment in the private sector was overlooked for a period, and the Kingdom is now working to correct that.  Financing its many expansions in industry and property development needs to be backed by the private sector to ensure growth.

 

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