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FinancialNews


  • 26-11-20

    Saudi economy recovers faster than expected

    (MENAFN) According to a new research, the Saudi economic sector has recovered faster than expected since the Gulf kingdom aims at ricochet from the harsh effects of coronavirus pandemic.

    A 2.7-percent reduction is estimated to be seen in non-oil GDP during this year compared to a previous prediction of 3 percent, according to Jadwa Investment, which is a leading Company in Saudi Closed Joint Stock.

    It said in a research note published on Thursday that "A less steeper decline than expected in Q2, and a stronger recovery in Q3 has led us to revise our non-oil GDP forecast."

    It further noted, "A less steeper decline than expected in Q2, and a stronger recovery in Q3 has led us to revise our non-oil GDP forecast,"

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