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  • 16-06-21

    Saudi Arabian growth estimated to be increased in 2021

    (MENAFN)US investment bank Goldman Sachs increased its estimations for Saudi Arabian enlargement in 2021and in 2022 among rising oil prices and crude output from the Kingdom.

    Enlargement in the gross domestic product would stood at 4.5 percent in 2021 and 7 percent in 2022 — higher than most estimations — with overall economic activity notably speeding up in manufacturing, finance and construction.

    Soussa further declared that “With oil prices advancing well above USD70 a barrel, we see risks to the oil sector as being significantly skewed to the upside and have increased our Saudi oil production assumptions by about 500,000 barrels a day to 10 million barrels by the end of this year, and 10.5 million on average in 2022.”

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