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Oxford ECONOMICS expects the Saudi economy to exceed one trillion dollars in 2022

Saudi Arabia achieves medals in the World Universiade Martial Arts Championship in Turkey

OXFORD ECONOMICS expects the Saudi economy to cross the trillion dollar barrier for the first time this year.

it indicated that the growth of Saudi GDP will reach 7.5% in 2022, noting that the International Monetary Fund expects growth to be in the range of 7.6%.

Saudi Arabia is aiming to become among the 15 largest economies in the world in 2030, and to record an expected domestic product of $1.7 trillion.

The rapid estimates of the Saudi General Authority for Statistics showed, on Sunday, that the real GDP of Saudi Arabia grew by 11.8% in the second quarter of 2022, compared to the same quarter of 2021.

The second quarter’s real budget data, which were released by the Saudi Ministry of Finance, showed that the country had earned more than 370.3 billion riyals in total earnings, including more than 250 billion riyals from oil.

The Saudi budget achieved a surplus of nearly 78 billion riyals in the second quarter, benefiting from the jump in oil revenues by nearly 90%.

The surplus in the first six months of the year exceeded 135 billion riyals, while the estimated budget expected a surplus of 90 billion riyals for the entire current year.

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