A new report from KPMG Al Fozan & Partners has stated that Saudi Arabia’s deflation is expected to normalise in 2020. The introduction of VAT drove inflation to 2.5 percent last year from -0.8 percent in 2017. King Salman has issued a number of royal decrees, splitting the energy, industry and mineral resources ministry as well as establishing new authorities to develop the capital Riyadh and replacing the head of the royal court. In other news, Saudi Arabia’s new anti-corruption chief has said that he aims to target public servants amid new efforts to stamp out corruption in the Kingdom.
To read more about this and more of this week’s news from the Kingdom of Saudi Arabia, click here.
If you would like to be added to our weekly email distribution of this newsletter, please email us.