In the report of Jadwa Investment Company, it is expected that the Saudi economy will grow by 2% during the current year, and although the output of the oil sector will diminish in part, due to Saudi Arabia's commitment to the production cut agreement between (OPEC) and its partners, the company expects the non-oil sector to grow slightly, Annual basis.

The report stated that the non-oil sector can benefit from expansionary fiscal policy, as it is expected that the increase in capital spending by 20% to maintain some levels of growth in domestic consumption.

Regarding the non-oil industry sector, the report stressed that the program of developing national industries and logistical services, which was launched recently, will be the main engine for growth in this sector.

More specifically, the National Industries Development Program will witness spending 100 billion riyals, equivalent to 26.6 billion dollars, during 2019 and 2020, and it represents the starting kick for the launch of the program.
The Jadwa Investment report predicted that the oil sector, which constitutes 44% of GDP in real terms at the end of 2018, would grow by 1.6%, leading to a total growth of 2% in GDP in 2019.
The report pointed out that despite expectations that Saudi crude production will remain unchanged, on an annual basis, in 2019, which is partly due to the commitment to the agreement to cut production between OPEC and some independent producers, the oil GDP will be boosted by the increase in gas production and the start of operation Jizan refinery, and in relation to the financial situation.

It was feasible that the average price of Brent crude would reach $ 66 a barrel, and Saudi Arabia’s average crude oil production would be about 10.3 million barrels per day in 2019, which would lead to oil revenues of 625 billion riyals, equivalent to 166 billion Dollars, less than 37 billion riyals, or $ 9.8 billion, from the estimated revenue in the budget of 662 billion riyals, up to $ 176.5 billion) When the revenue viability was estimated at 313 billion riyals and as a result, I expected a slight increase in the budget deficit, to reach 168 billion riyals, or 5.5% of the estimated GDP for 2019. But the report sees a possibility Expected gains from the allocation program are used.
The report stressed that the growth of the economy will continue to improve in 2020, thanks to the record government budget spending, which amounts to 1.14 trillion riyals, equivalent to 304 billion dollars, an increase of 3% on an annual basis.