Higher oil prices will expand Saudi Arabia’s economy by more than $95 billion in 2011 while real GDP will pick up by nearly 5.6 per cent, its highest growth in six years, according to an investment firm in the Gulf kingdom.
The increase in crude prices will also ally with higher oil output to turn a budgeted fiscal deficit into a surplus despite a sharp rise in actual public expenditure, the Riyadh-based Jadwa Investments said in a study.
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