Deep into the Saudi down-cycle
Saudi Arabia’s cement industry has faced a challenging few years as construction activity decreased following a more cost-conscious government budget. However, while many positive steps have been taken, the sector’s recovery could be protracted. By Pritish Devassy, Al Rajhi Capital, Saudi Arabia.
While the Saudi cement industry has faced a challenging few years,
the dust appears to be slowly settling with signs of a recovery emerging
The largest economy in the Middle East, Saudi Arabia, is expected to see its nominal GDP reach SAR2.9trn (U$780bn) in 2018. Real GDP declined by 0.9 per cent in 2017, according to the IMF, but is forecast to grow by 1.9 per cent in 2018.
