Saudi Arabia’s economy grew by 9.6 percent in the first quarter of 2022, compared to a year earlier, according to flash government estimates on Sunday, as a recovery in the oil sector drove the strongest growth in more than a decade.For the latest headlines, follow our Google News channel online or via the app.During the first quarter, oil activity in Saudi Arabia increased by 20.4 percent and non-oil activity by 3.7 percent, the estimates showed.If the estimates are confirmed, they would mark the highest growth rate since 2011, the Saudi General Authority for Statistics said. Read more: High oil prices to power Gulf economies amid inflation risksSaudi Arabia’s new investment law to increase international business by over 50 pctSaudi Arabia’s economy to grow by 2.8 percent amid record-high oil prices: IMF
Source: Al Arabiya
Full Article: Saudi Arabia’s economy achieves highest growth rate since 2011: Govt data
