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Saudi Arabia’s economic growth slows as oil cuts, price drops bite into revenues

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Saudi Arabia's economic growth slows as oil cuts, price drops bite into revenues

Cityscape of Saudi capital Riyadh.

Harri Jarvelainen Photography | Moment | Getty Images

Saudi Arabia’s economy slowed in the second quarter, as crude output cuts and a drop in oil prices reined in one of the fastest growing nations of the G20.

Riyadh’s GDP expanded by an annual 1.1% in the second quarter, the Saudi General Authority for Statistics

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, down from 3.8% in the previous quarter and 11.2% in the same period of 2022. 

The…

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