As the gross domestic product in the fourth quarter witnessed a growth of 3.59%, on an annual basis, and in the third quarter, the annual growth rate reached 2.5% and the Saudi economy faced difficulties in Past years, due to lower oil prices and austerity measures aimed at reducing the huge budget deficit.
In 2017, the economy contracted for the first time since the global financial crisis that erupted about ten years ago, and data showed that the economic recovery in the Kingdom is still heavily dependent on production Oil.
It is worth noting that, the oil sector increased by 6% on an annual basis, growth in the non-oil sector reached 1.8%, down from 2.1% in the third quarter of last year.
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expectations of oil stability between 65 and 75 Dollars until the end of 2019
