Saudi Arabia’s economy grew 2.8 percent in the fourth quarter of 2020 compared to the previous three months, flash estimates from the General Authority for Statistics showed on Wednesday.
The Arab world’s largest economy contracted about four percent last year, the lowest level since at least 2013 and in line with estimates from the International Monetary Fund (IMF). Gross domestic product shrank 3.8 percent compared with the same quarter the previous year.
The statistics authority said more details on economic growth, including a breakdown of oil and non-oil GDP, will be published on March 21. The kingdom didn’t disclose a breakdown of revenues in its annual budget statement last year as doing so would give clues about the state of energy giant Aramco’s dividend plans.
The government recently started publishing flash estimates for the kingdom’s economic indicators although the information is subject to revisions.
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