Saudi Economy Grows at Fastest Quarterly Pace Since 2022
- GDP rose 4.4% year on year as the non-oil economy expanded
- Country spending hundreds of billions on diversification plan
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Saudi Arabia’s economy grew in the fourth quarter at the quickest pace since 2022 as the non-oil sector expanded under the kingdom’s multi-billion dollar plan to diversify from oil.
Gross domestic product rose 4.4% year-on-year, according to preliminary data from the country’s General Authority for Statistics. It rose 2.8% in the previous quarter.