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Value of non-oil Saudi contracts exceeds SR225bn
- Saudi Arabia: Wednesday, July 01 - 2009 at 11:01
Riyadh-based Samba Financial Group has said in its 'Saudi Arabia: 2009 Mid-year Economic Review and Forecast' that the value of non-oil contracts awarded by the public sector over the past six months had exceeded SR225 billion ($60bn), equivalent to 18% of the forecast for total GDP this year. The increase in investment has helped reassure investors that the government is committed to supporting non-oil growth in the short term and expanding and improving the kingdom's infrastructure over the medium term, the report said.
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