Tuesday, July 23, 2024
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The third quarter saw annual growth of 8.8% in SAUDI Arabia’s gross domestic product, keeping the oil-rich nation on track to have the fastest growth rate among the Group of 20 (G20) countries this year. Saudi Arabia has previously stated that it expects its economy to grow by 8.5% for the entire year and to post its first budget surplus in almost a decade. 

The statistics point to some progress in Crown Prince Mohammed bin Salman’s efforts to diversify and open up the economy of the largest crude exporter in the world. These goals depend in part on Saudi Arabia’s capacity to attract more foreign investment.


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