MANAMA: Saudi Arabia’s real GDP (gross domestic product) growth will slow down from a projected 6 percent in 2008 to 3 percent in 2009, according to the latest forecast released yesterday.
Nouriel Roubini, professor of economics and international business at the Stern School of Business at New York University, said that Saudi Arabia would be among the other GCC (Gulf Cooperation Council) countries to witness an economic slowdown in 2009.
“The current credit crunch is expected to persist due to the impaired financial system, leading to a very weak economic recovery in 2010,” Roubini said.
