Saudi Arabia’s flash GDP estimate showed that the economy fell into a technical recession on the back of oil output cuts, whereas the non-oil economy continued to post robust growth. With the Kingdom’s voluntary 1mn bpd oil output cut set to be extended at this week’s OPEC+ meeting, there is a growing possibility that the economy contracts over this year as a whole.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services