Advisory Center for Affordable Settlements & Housing

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Saudi Fact book 2011

The Saudi Arabian economy remains one of the strongest in the region and one of the best positioned to weather any potential slowdown in the global recovery. Whilst many major economies continue to struggle post the financial crisis, the Saudi economy registered real GDP growth of 3.8% in 2010, up from 0.6% in 2009 and is expected to record growth of some 5.8% in 2011. With limited exposure to the regional political instability and a low probability of any upheaval in Saudi Arabia itself, the government is positioned to benefit in the shot term from oil prices which remain stubbornly above $100/bbl, up more than 20% YoY. The gains in income for the government have been translated into a significant ramp-up in government spending with various measures announced in the wake of the regional instability which is likely to further support economic growth.

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