Saudi Arabia covid-19 economy Government Saudi Arabia

Saudi economy grew 2.8% in fourth quarter as Covid impact eased

Reading now: 496
www.livemint.com

Saudi Arabia’s economy grew 2.8% in the fourth quarter of 2020 compared to the previous three months, spurred by a decline in Covid-19 cases and the easing of restrictions.The largest Arab economy shrank 4.1% last year, flash estimates from the General Authority for Statistics showed Wednesday, the sharpest contraction in more than three decades.

The figures are in line with estimates from the International Monetary Fund. Gross domestic product contracted 3.8% in the fourth quarter compared with the same period the previous year.Like other Gulf oil producers, Saudi Arabia was hit hard last year as a drop in crude prices decimated government revenue while measures to stop the spread of the coronavirus limited economic activity.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA