RIYADH - Saudi Arabia's non-oil gross domestic product is expected to grow by around 6% this year, the kingdom's finance minister said on Wednesday, adding he expected it would continue to be healthy.
"We are likely to continue to see growth within that range in the foreseeable future, possibly to 2030 and beyond," Mohammed Al-Jadaan told Reuters on the sidelines of Riyadh's flagship FII investment conference. The government expects higher spending over the coming years which analysts have said will drive domestic growth and support non-oil GDP, but tilt the kingdom into a fiscal deficit.
"Our aim in the foreseeable future is to accelerate our reforms. We are very aware of our fiscal space and our spending is within that," Jadaan said.
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