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FINANCIAL NEWS
Saudi Q1 economic growth lowest since 2011
18 Jul 2013
(MENAFN) The Central Department of Statistics and Information (CDSI) reported that despite the fact that each non-oil sector in the Kingdom’s economy grew, the country’s first quarter economic growth was the lowest over the past three years, reported Arab News.
The CDSI stated that economic growth for the first quarter stood at 2.1 percent, down from the same quarter of the previous where economic growth hit 6.6 percent.
Compared to the previous quarter, economic growth also went down from the reported 4.4 percent.
It is worth mentioning that the only sector that did not show growth was the oil sector, which shrunk by 6.3 percent.
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