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GDP grows 2.8% in 3Q 2024
Non-oil activity led growth at 4.3%
Non-oil economy posts record growth in November
Strong demand drove businesses to shore up their inventories and ramp up hiring
Where the World Bank sees inflation, gov’t spending, and more
The multilateral lender also warns of stresses on the Kingdom’s water resources
World Bank revises down Saudi growth forecast
The lender expects strong growth in the country’s non-oil sector to offset oil GDP contraction
Al Jadaan outlines next year’s fiscal policy
Saudi will bridge the budget deficit by tapping local and international debt markets
FinMin outlines budget for FY 2025
GDP growth next fiscal year is set to come from the non-oil sector and private sector contributions
Picking up speed
Expansions in both oil and non-oil activities are expected to drive growth next year
Non-oil exports rose 7.6% y-o-y in 3Q, while oil exports fell
Imports rose 11.4% y-o-y in 3Q
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