Saudi Arabia's economy grew 1.3% in 2024, driven by a robust 4.3% rise in non-oil sectors.

Saudi Arabia's economy grew by 1.3% in 2024, mainly due to a 4.3% increase in non-oil sectors, following a contraction in 2023. The non-oil sector showed strong growth of 4.6% in the fourth quarter, marking the highest growth in two years. Despite a decline in oil activities, the economy is diversifying, with projections of 3.3% growth in 2025 and 4.1% in 2026 from the IMF.

2 months ago
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