Macro - Country Economic Forecasts - Saudi Arabia

Macro - Country Economic Forecasts - Saudi Arabia

The Saudi economy expanded 1.1% y/y in Q2, with a 5.5% y/y rise in non-oil activities and a 4.2% y/y decline in oil activities. We forecast headline GDP growth of 1.1% this year and think a 3.8% contraction in the oil sector will be offset by a 5.1% expansion in the non-oil sector and 2.3% growth in government activities.