According to the government estimates, the growth is based on recovery in oil sector
Published 3 years ago on May 1st 2022, 8:44 pm
By Web Desk
Saudi Arabia's economy grew by 9.6% in the first quarter of 2022, compared to a year earlier, according to flash government estimates on Sunday, as a recovery in the oil sector drove the strongest growth in more than a decade.
During the first quarter, oil activity in Saudi Arabia increased by 20.4% and non-oil activity by 3.7%, the estimates showed.
If the estimates are confirmed, they would mark the highest growth rate since 2011, the Saudi General Authority for Statistics said.
SOURCE: REUTERS
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