Riyadh-based Samba Financial Group predicts 3.7% increase for economy,a strong rebound from the slow growth last year[Bloomberg 25/1/10].All sectors,including oil,are expected to thrive due to the continuing fiscal stimulus[441 billion,moderate inflation,low borrowing costs and increasing investor interest. The lack of Chinese involvement in the project may not be a bad thing:the Saudis have considerable resources and if the Chinese economy 'overheats',having Saudi backing is a nice hedge against this unpleasant possibility.
BGD Price at posting:
17.0¢ Sentiment: LT Buy Disclosure: Held
