Best Regards,,,
Nawaf Y. Husein
Faculty Member
Msc, CRP , CLBB
Saudi Training Society Member
Institute of Banking
Saudi Arabian Monetary Agency ( SAMA)
P.O.Box : 10820 Riyadh 11443 Saudi Arabia
Tel : + 966 1 463 3000 Ext. 3825
Fax: + 966 1 466 2368
Mobile : + 966 55 48 44 828
http://www.linkedin.com/pub/nawaf-abu-hejleh/28/342/64a
SKYPE : abuhejleh2
Dear Readers,
Please find attached our first issue of the monthly NCB Saudi Economic Review.
Executive Summary
· Lower than previously forecasted global economic growth combined with expanding non-OPEC output, especially in North America, will put a gradual downward pressure on oil prices.
· The ECB also justified its inaction of the Euro's appreciation by indicating that exchange rates are not a primary focus on its current agenda, as it has more pressing matters at stake.
· Looking forward into 2013, global growth and geopolitical tensions across the Middle East will dictate commodity performance as energy, in addition to agricultural sectors will continue to be volatile.
· The continuous acceleration of credit in the local economy aided SAMA in controlling the monetary situation throughout last year as inflation was subdued.
· The anticipation for earnings season has attracted capital flows into the market with high expectations, additionally, the bullish momentum was carried over to 2013.
· Given the robust economic conditions, the private sector had a pivotal role in driving the economy forward. Local banks are expected to maintain the current level of activity with a more selective approach for 2013.
· China remains the crucial trading partner and it appears that the slight recovery in its manufacturing activity has left its imprints on the trade balance sheet.
Best regards,
No comments:
Post a Comment