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Saudi Economy Shrinks 3.8% Amid Conflict | Markets & Money News
Saudi Arabia's economy has contracted by 3.8% year-over-year for the second consecutive quarter, primarily due to significant disruptions from ongoing conflicts affecting oil production, which saw a 20.4% decline. However, non-oil sectors experienced a 1.9% growth, indicating potential resilience and progress in diversification efforts. Continued conflicts, including missile strikes impacting operations, add to the uncertainty. Despite these challenges, the International Monetary Fund notes
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