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Saudi Arabia's Non-oil Activities Grow by 4.4% in 2023

The Saudi non-oil economy continues to grow at a rapid pace, achieving an increase of 4.4 percent in 2023, amid expectations that it will accelerate to more than 5 percent in the next two years. In parallel, the decline in oil activities by 9 percent last year led to a contraction in real GDP by 0.8 percent. In February, Finance Minister Mohammed Al-Jadaan expected the Kingdom’s non-oil GDP to grow by more than 4 percent, and to exceed 5 percent in the medium term. ....

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Saudi Arabia Expands Inflation Gap with the G20 Countries

Saudi Arabia was able to expand the difference in the inflation rate with the G20 countries and maintain its advanced position, occupying the second place after China, by recording 2 percent in August. The General Authority for Statistics (GASTAT) announced Thursday that inflation in the Kingdom registered a further decline in August, after reaching 2.3 percent in July. This current level of inflation in the Kingdom is the lowest in a year and a half. ....

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Extending Hajj Visas Boosts Economic Diversification, Stimulates Tourism

Extending Hajj Visas Boosts Economic Diversification, Stimulates Tourism
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Saudi Efforts to Protect Oil Producers from Shrinking Global Economic Growth

The Saudi government's voluntarily reducing its output to nine million barrels per day (bpd) represents significant to support the global market and protect producers and consumers, economic analysts told Asharq Al-Awsat. The experts emphasized the importance of a unified OPEC+ decision and the voluntary production decline in line with the capabilities of many oil-producing countries. - Market protection ....

Saudi Arabia , Asharq Al Awsat , Osama Al Obaidi , Saudi Ministry Of Energy , Saudi Ministry ,

New Companies Law Stimulates Saudi Commercial System

Middle-East Arab News and Opinion - Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities ....

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