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Saudi Arabia's Q1 Economic Growth Driven by Non-Oil Activities.

1 min read
Source: Reuters
Saudi Arabia's Q1 Economic Growth Driven by Non-Oil Activities.
Photo: Reuters
TL;DR Summary

Saudi Arabia's economy grew by 3.9% YoY in Q1 2023, boosted by non-oil activities which grew by 5.8%, while oil activities grew by 1.3%. However, seasonally adjusted real GDP decreased by 1.3% in Q1 2023 compared to the previous quarter due to a decline in oil activities. The IMF projects that Saudi GDP growth will more than halve to 3.1% this year.

Topics:business#economy#gdp#imf#non-oil-activities#oil-activities#saudi-arabia
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  1. Saudi Arabia economy grew 3.9% in Q1 boosted by non-oil activities  Reuters
  2. Saudi Arabia Records Slower Economic Growth in First Quarter  Bloomberg
  3. Saudi Arabia economy grew 3.9% in Q1 boosted by non-oil activities By Reuters  Investing.com
  4. Saudi Arabia’s economy grew 3.9 pct in first quarter of 2023  Al Arabiya English
  5. Saudi Arabia Budget Slips into Deficit as Spending Accelerates  Bloomberg

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