A report issued by "Capital Economics - London" revealed that economic growth in Saudi Arabia has passed its worst stages in the past 12 months, expecting to return to the path of growth this year.
It is expected, according to the report, that the gross domestic product of Saudi Arabia will grow by 1.3% this year, and that the Saudi economy will resume its growth momentum in 2020 if oil production levels continue at the current levels.
According to the report, the decline in oil prices does not represent a threat to the Saudi economy, with the Saudi authorities moving to control their fiscal policy during the current year.
The Saudi economy recorded a contraction of about 0.46% in the third quarter of last year in the first quarterly contraction after 6 seasons of growth, specifically in the last quarter of 2017, when the Saudi economy shrank by 1.43 percent.
Source (Al-Arabiya.net website, Edited)
