September 2003
Middle East Monitor: The Gulf;Sep2003, Vol. 13 Issue 9, p4
Country Report
Country Report
The article focuses on economic research firm Business Monitor International Ltd.'s (BMI) economic forecast for Saudi Arabia. Recent strong oil prices underpin a positive 2003 outlook for Saudi Arabia. The firm anticipate that prices will exceed its current forecast of US $24.00/b by US $2.5/b. As prices and production fall, however, and the non-oil sector remains relatively stagnant, real growth will slow in 2005. GDP growth will drive demand for imports, which BMI expects to rise by 31% from US$32.00b/d in 2002, to US$42.00b/d in 2005.


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