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Article: Saudi Arabia expands impressively.
- Article from:
- Market Africa Mid-East
- Article date:
- December 1, 2005
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From 1996 through the end of 2004, Saudi Arabia's per capita income grew only 0.6 percent, according to International Monetary Fund (IMF) statistics. During 2005, however, again according to the IMF, per capita income will increase 50 percent. GDP growth is estimated at about 6 percent.
In a recent report the British Broadcasting Corporation (BBC) borrowed language from the IMF to characterize the Saudi economy as "expanding rapidly".
The BBC also said per capita income will end 2005 at over us$13,000 up nearly us$1,500 from $11,888 in 2004.
In a single year, Saudi Arabia's consumers will gain impressively in purchasing power and disposable ...