Saudi Arabia’s Economy Shrinks by Most Since 2020 On Oil Cuts
- Deep cuts to oil output weigh on economy in third quarter
- Government says its increasingly focused on non-oil growth
Visitors looks out towards the city skyline from the skybridge of the Kingdom Center, in Riyadh, Saudi Arabia.
Photographer: Jeremy Suyker/BloombergThis article is for subscribers only.
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Saudi Arabia’s economy suffered its biggest contraction since 2020 during the third quarter, after the kingdom cut oil production to push up prices.