-
Saudi Economic ‘Overheating’ Fears Emerge as Constraint on Plans
Saudi Arabia wants to avoid sending the economy into overdrive as it channels investments with the goal of pivoting the nation away from oil dependency. Finance Minister Mohammed Al-Jadaan said Tuesday that while his country’s massive investments are helping to grow the non-oil economy, the kingdom needs to be careful about “overheating” — which could cause inflation to quicken — and “leakages.” “If you don’t allow your economy to catch up with your projects, basically what will happen is you’ll import a lot more,” Al-Jadaan said at the Qatar Economic Forum. As a result, Saudi Arabia could lack ... (full story)