BMI maintains an upbeat view on the Saudi new car sales market at the mid-point of 2013. Early indications (from the first two months of the year) show that new vehicle sales are up by 14%, at 121,583 units. For 2013, BMI maintains its forecast for real GDP growth of 4.1%, rising to 4.6% in 2014 on the back of a slight rebound in oil exports. Business activity in the private sector remains supported by the government’s loose fiscal policy stance, easy credit conditions and robust consumer confidence. Looking forward, we expect the government’s fiscal policy stance to remain broadly …
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