Drive for development: Is Saudi Arabia moving forwards asks David Clifton ...United Arab Emirates

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2022 started with a major imbalance between all forecasters and analysts’ expectations from the end of 2021 and the real environment. This is of course driven by the act of war in Ukraine by Russia. But what it’s meant for the global, regional, and Saudi economy is a compounding effect of some expected results of the pandemic. We now see inflation on the move towards 10% globally and a forecast of just under 9% for KSA for 2022. This is driving a range of monetary and political policy. Some of which has been expected – the reigning in of quantative easing (QE) and now the increasing central bank interest rates which is driving the cost of capital up through the two actions. For the fortunes

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