Saudi Arabia's economy contracted again According to the General Statistics Organization of Saudi Arabia, the country's gross domestic product fell by 3.8 percent in the third quarter of the year. This is the first time since 2023 that the largest economy in the Arab world has experienced two consecutive periods of economic contraction. Although this decrease improved compared to the 4.7% decrease in the second quarter, it is caused by a 20.4% decrease in oil activity, which was affected by the consequences of the war and the conflict with Ansarullah and disruptions in oil exports. On the other hand, the non-oil sector registered a growth of 1.9 percent. The escalation of tensions and the latest attacks in October limited commercial, educational and financial activity in Riyadh. However, the International Monetary Fund said earlier that financial reserves and export infrastructure helped Saudi Arabia contain the damage from the war, even though the government forecast the economy to contract by 3.6 percent for the full year and the budget deficit to 4.9 percent. Full text of the channel.

Saudi Arabia's economy contracted again According to the General Statistics Organization of Saudi Arabia, the country's gross domestic product fell by 3.8 percent in the third quarter of the year. This is the first time since 2023 that the largest economy in the Arab world has experienced two consecutive periods of economic contraction. Although this decrease improved compared to the 4.7% decrease in the second quarter, it is caused by a 20.4% decrease in oil activity, which was affected by the consequences of the war and the conflict with Ansarullah and disruptions in oil exports. On the other hand, the non-oil sector registered a growth of 1.9 percent. The escalation of tensions and the latest attacks in October limited commercial, educational and financial activity in Riyadh. However, the International Monetary Fund said earlier that financial reserves and export infrastructure helped Saudi Arabia contain the damage from the war, even though the government forecast the economy to contract by 3.6 percent for the full year and the budget deficit to 4.9 percent. Full text of the channel.