Thursday, November 2, 2023

Saudi Update — November 2, 2023

Locator: 45913SAUDI.

Link here.

Saudi Arabia’s economy suffered its biggest contraction since 2020 during the third quarter. Gross domestic product fell by 4.5% compared with a year earlier, driven by a 17% drop in the oil sector. The kingdom posted a budget deficit in the third quarter of $9.5 billion, almost seven times larger than in the previous three months.

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