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  • 20-10-21

    Saudi economy expected to improve 2.5 percent in 2021

    (MENAFN) The Saudi economy is estimated to increase by 2.5 percent in 2021 and by 7.3 percent in 2022, according to Economic research firm Capital Economics.

    The country’s GDP would be about 3 percent higher by the end of 2023, in comparison to the firm’s pre-pandemic predictions.

    "This would make the Saudi economy one of the few in the world where GDP will be above its pre-pandemic trend over the forecast period,” Chief Emerging Market Economist at CE, William Jackson said.

    Along with a less contractionary fiscal policy, the company estimated that higher oil output would drive the economy’s rebound in 2022.

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