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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…
Normalization with Israel = brownie points for Biden
Plus: Arqaam Capital is bullish on KSA growth this year
February non-oil export figures are in
Non-oil re-exports rose 32.3% in value on an annual basis in February 2024
Economists see GDP growing 1.9% this year –Reuters poll
The latest forecasts are weaker than those expected by the IMF and the World Bank
IMF sings the praises of Saudi’s non-oil sector
Non-oil activity accounted for 50% of the Kingdom’s real GDP in 2023
IMF joins World Bank in trimming (ever so slightly) Saudi’s growth outlook
The IMF raised its Saudi GDP growth forecasts in 2025 to 6.0%
Inflation cooled on an annual basis in March 2024
Producer prices rose 3.8% y-o-y in March 2024
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