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  • 27-06-20

    IMF incises Saudi Arabia estimate as oil, Coronavirus strike economy

    (MENAFN) On Wednesday June 24 the International Monetary Fund (IMF) stated that Saudi Arabia's gross domestic product (GDP) will minimize by 6.8 percent this year, its most horrible presentation since the 1980s oil excess, as little basic prices and Coronavirus beat Middle East economies.

    The novel outcrop for the Saudi financial system, the main in the region, is a enormous 4.5 percentage points lesser than what the International Monetary Fund had schemed just two months ago, dazzling a speedy worsening in the world's top basic exporter.

    the global lender stated in its World Economic Outlook update that enlargement in the Middle East and Central Asia region is anticipated to bond by 4.7 percent this year, 1.9 percentage points underneath the preceding scheme in April.

    The International Monetary Fund reserved its oil price outcrops approximately unaffected from April at around 36 USD a barrel.

    MENAFN2706202000450000ID1100394793

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