Saudi economic outlook: 1997

Article Abstract:

Saudi Arabia's economic and financial situation improved substantially in 1996, and the country is well positioned for higher growth. According to Saudi Arabia's 1997 budget statement, GDP grew an estimated 8.6% in 1996, up from 4.3% in 1995. Most of the 1996 growth is attributable to higher oil prices. The kingdom generally recognizes that economic reforms, not continued high oil prices, are necessary to solve the country's economic challenges.

Gross Domestic Product, Analysis, Saudi Arabia, Economic development

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Rising oil prices and growth prospects in the Gulf states: immediate financial relief vs. long-term structural reforms

Article Abstract:

Gulf countries are expected to post positive GDP growth both for oil and non-oil sectors for the year 1999. The expectation was based on rising oil prices which is seen to continue for the entire year of 1999. The rise started in late March of 1999 after an agreement was made between OPEC and three non-OPEC members, namely Mexico, Norway and Oman, involving cutting of oil production by two million barrels per day beginning Apr 1, 1999.

PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Petroleum industry, Middle East

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Adjusting to higher oil prices: economic growth in the Gulf

Article Abstract:

The Gulf area in the Middle East has seen growth in its economy over twelve months due to an increase in oil prices and revenues since 1999. A rise in government spending and the possibility of economic reform are described.

Finance, Economic policy, Gulf States

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