Saudi Non-Oil Economy Grows at Fastest Pace in Over a Year

  • Higher crude prices boosted Saudi government revenues
  • Saudi economy grew 8.7% in 2022, fastest in the world

Pedestrians and office workers pass commercial buildings in the King Abdullah Financial District in Riyadh, Saudi Arabia.

Photographer: Jeremy Suyker/Bloomberg
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Saudi Arabia’s non-oil sector, the engine of job creation, grew at the fastest pace in more than a year and helped the kingdom record the fastest overall growth among major global economies.