Capital Economics expects Saudi Arabia's GDP to grow by 2.8 percent this year, accelerating to between 3.6 and 4.8 percent over the next two years as oil production increases after the voluntary cut was lifted and accommodative fiscal policies remained in place.
According to the London-based think tank, the Saudi economy will achieve a modest recovery in 2024 after a very weak performance in 2023 thanks to the continued strong momentum of the non-oil economy to offset the impact of the extension of oil production cuts until the end of the second half of this year.
Source (Al-Arabiya.net Website, Edited)
