Saudi Arabia's economy contracted by 3.7 percent in the fourth quarter of 2023 compared to the previous year, reflecting a drop in oil revenue, the
Saudi Arabia’s economy contracted by 3.7 percent in the fourth quarter of 2023 compared to the previous year, reflecting a drop in oil revenue, the government’s statistics agency said on Wednesday. The decline in real gross domestic product “was due to the decrease in oil activities by 16.4 percent, while non-oil activities and government activities […]
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