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19-10-22
OECD estimates Saudi Arabia GDP growth to come higher than G20 countries
(MENAFN) Saudi Arabia’s gross domestic output is anticipated to surge at 9.9 percent in 2022, recording the biggest surge between the Group of 20 nations, in line with a financial forecast report issued by the Organization for Economic Co-operation and Development.
In the ‘OECD Global Economic Prospects 2022’, the intergovernmental body stated that the nation’s GDP is anticipated to surge by 6 percent next year.
The OECD mentioned that Saudi Arabia’s growing financial expansion comes at a time when the international economy is dealing with multifarious obstacles. This consist of the sustain of inflation for an additional time span longer than estimated, in line with geopolitical conflicts like the continuing attack on Ukraine, as reported by Saudi Press Agency.
Because of these obstacles, OECD also declined its estimation for the worldwide economy's performance next year from 2.8 percent to stand at 2.2 percent.
MENAFN19102022000045014228ID1105044864
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