Saudi GDP projected to contract 5.2 per cent in 2020
(WorldNews Business)

Dubai: Saudi Arabia`s economy plunged by about 11 per cent in the second quarter of 2020 year on year, according to the latest estimates by the Instituter of International Finance (IIF), the global association of the financial industry. The sharp contraction follows a 1 decline in GDP in the first quarter 2020, fueled by pandemic-related restrictions on economic activity and the fall in crude oil production in the context of the OPEC+ production cut agreement. See more First residents have moved into Deira`s landmark development Gulf Related opens SAR-1 billion Antara residential development in Diriyah in Riyadh Jumeirah Living Marina Gate serviced residence opens in Dubai Marina Top video...