Economy diversifies to boost growth in 2020 – ZAWYA

Economy diversifies to boost growth in 2020 – ZAWYA

Reforms in the entertainment and tourism sectors are expected to boost growth in Saudi Arabia this year. Commenting on the findings, Fazeela Gopalani, Head of Middle East ACCA, said: 'A revival in growth is likely to come from the non-oil sector as the economy diversifies.. Non-oil private sector growth is likely to support growth in 2020, especially with the World Expo set to take place in Dubai later in the year.'. Last year GDP growth in Saudi Arabia slowed to less than ½%, dragged lower by falling oil production and lower average oil prices.. Fazeela Gopalani concludes: 'Lower interest rates in the region should stimulate private sector credit growth and help to boost the non-oil private sector economy.. The contents of the press release was provided from an external third party provider..