Saudi GDP growth is expected to fall to 2.5% in 2015 from 3.7% in 2014, mainly due to an anticipated contraction in the oil sector by 0.6%, Jadwa Investment said in its latest update on the Saudi economy. Oil revenue will decline in 2015, but the refining sector will grow by 10%, making it the fastest growing sector in the kingdom in 2015.
The non-oil private sector will continue to be the engine of growth, rising by 5.3%, as it benefits from elevated government spending, as well as corporate lending and solid domestic consumption. (CONTINUED - 384 WORDS)
