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Saudi economy starts to recover, set to accelerate as oil output rises


  • Economy
  • Sunday, 1 Jul 2018

An oil tanker is being loaded at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS

An oil tanker is being loaded at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS

DUBAI: Saudi Arabia's economy began to recover in the first quarter of 2018 after shrinking for the first time in eight years during 2017, official data showed on Sunday, and the recovery looks set to accelerate in coming months with a rise in oil production.

Gross domestic product, adjusted for inflation, grew 1.2 percent from a year earlier in the first three months of 2018, the government's statistics agency said.

Economy , Oil & Gas

   

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