Saudi economy to grow 4.2 percent in 2011

Saudi Arabia’s economy wants to 4.2% in 2011 after 3.8% in 2010, Driven heavy government Spending. With crude prices and strong demand will fund its budget and turn in a surplus and planning 7% hike in spending from 2010’s original budget.

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While on paper a budget shortfall of 40 billion riyals (10.7 billion dollars) is forecast for 2011,and that high spending will not prevent the government from running a budget surplus around 6% of GDP and that it will require an oil price of nearly 70 dollars per a barrel.





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