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Inflation was unchanged in April 2024
Producer prices rose 3.4% y-o-y last month
Saudi Great Futures day 1: UK + Saudi business ties in the spotlight
Trade exchange between the two countries has surpassed the GBP 17 bn mark in FY 2023
No overheating
Al Jadaan said he was positive on plans remaining on track despite higher spending to implement projects
US energy secretary to visit Riyadh this week, suggesting progress on nuclear power agreement
Plus: IEA warns Opec+ that high oil prices are bad for inflation
Gov’t debt is still on a “benign” trajectory, S&P says
Saudi’s debt-to-GDP ratio is expected come at 26% in 2027
Steady growth
Output and new orders fueled the expansion trend, despite rising at a slower m-o-m pace
Gov’t budget closes 1Q 2024 in deficit
This marks the sixth quarter in a row in which the Kingdom has posted a budget deficit
Economy contracts again in 1Q 2024 on lower oil activity
The downturn was once again due to a decline in oil activity, which fell by 10.6% y-o-y in the last…
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