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.
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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.