Saudi Arabia fastest-growing G20 economy, amid low unemployment rate – IMF

Saudi Arabia is the fastest-growing economy amongst G20 nations, with its unemployment rate having hit a record low, a report by the International Monetary Fund (IMF) has stated. According to the IMF report, released yesterday, Saudi Arabia’ overall economic growth reached 8.7 per cent last year due to a number of factors, including strong oil production and 4.8 per cent in non-oil GDP “driven by robust private consumption and non-oil private investment”. In that non-oil growth, the primary sectors were reportedly wholesale trade, retail trade, construction and transport, with the IMF report predicting that the momentum of the non-oil growth would continue rising throughout this year. The main exports of the Kingdom were stated to be wheat, dates, dairy products, […] Source

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