Saudi Economy Shows Negative Growth

- Dec 26, 2017-

   According to Agence France-Presse reported that Riyadh, Saudi Arabia announced that this year GDP is expected to shrink 0.5%. This will be the first Saudi negative economic growth since 2009, mainly in Riyadh to cut fuel and energy subsidies and other austerity measures taken in response to the downturn in oil prices caused. 

  Saudi authorities also referred to the OPEC and other oil producers and oil prices a year ago to stimulate the signing of this agreement to limit production background. 2017, Saudi Arabia's budget deficit more than expected: the country's deficit of $ 61.3 billion, exceeding expectations of about $ 8 billion. Saudi Arabia nearly four years the deficit totaled $ 25.8 billion.   ——