- Saudi Arabia’s 5.7 percent growth over the first three months of 2021.
- Saudi Arabia’s further implementation of the plan to generate revenue from the non – oil sector has brought huge economic benefits
An analysis of the indices released by the G20 countries and the International Monetary Fund revealed that Saudi Arabia is ahead of the major economies globally. Al-Iktisadia reports that the country is recovering from the effects of the Kovid virus.
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The reason for the recovery of Saudi Arabia’s strong economic power is that it has announced big plans to stimulate the economy. Saudi Arabia’s further plans in the non – oil sector have brought huge economic benefits to Saudi Arabia. In addition, oil production increased within the agreement between the OPEC alliance and the countries. This also gave the Saudis a huge financial return.
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India leads the economy with a growth rate of 12.7 per cent. Saudi Arabia is in second place. Last year’s rankings were: India 12.7%, Saudi Arabia 5.7%, Argentina 4.1%, France 3%, Turkey 2.7%, Italy 2.6%, the United States 2.3%, Germany 1.7%, Switzerland 1.7%, Indonesia 1.55% and Canada 1.3%. The United Kingdom 1.1%, South Korea 0.3% and China 0.2%. In the first half of 2012, it grew by 8.7 per cent. The growth rate is higher this time around.
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