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2019-02-04 10:00:00

SAUDI ARABIA ECONOMY UP 2.2%

SAUDI ARABIA ECONOMY UP 2.2%

REUTERS - Saudi Arabia's economy grew at a pace of 2.21 percent in 2018, buoyed by strong oil sector growth and recovering from a contraction in 2017 when the economy was hurt by weak oil prices and austerity measures, government data showed on Thursday.

In 2017, it shrank 0.74 percent, the first annual decline since the global financial crisis nearly a decade earlier.

The oil sector grew 2.85 percent, from a contraction in 2017, while the non-oil sector grew 2.05 percent.

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Tags: SAUDI ARABIA, ECONOMY,

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SAUDI ARABIA ECONOMY UP 2.2%
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