Saudi private sector GDP rose to SAR 1,226 bln in 2016

Saudi private sector’s GDP rose to SAR 1,226 billion in 2016 from SAR 948 billion in 2015, said Ahmed Al-Rajhi, the chairman of the Council of Saudi Chambers (CSCs).

Al-Rajhi added that this is a good indication of the qualitative leap achieved by the private sector and its contribution to the economy, as well as the strength of fundamental developments in the private sector, despite global economic conditions, Saudi Press agency (SPA) reported on Monday.

Under Saudi Vision 2030, there are plans to raise the private sector’s contribution to 65 percent of GDP from the current 40 percent, Al-Rajhi added.