Japan’s MUFG predicts 2021 economic recovery for Saudi Arabia

MUFG, a global financial services group and one of the largest banking institutions in Japan, anticipates a fast and robust economic recovery for Saudi Arabia in 2021, with GDP growth forecasted to rise from -4.8 percent to 3.6 percent, and a combination of a further pick-up in crude oil production as well as a rebound in non-oil sector momentum.