Riyadh – Mubasher: Saudi Arabia’s gross domestic product (GDP) at constant prices rose by 1.66% year-on-year during the first quarter of 2019, up from 1.38%.
The kingdom’s non-oil GDP grew by 2.13% in Q1-19, compared to 2.09% in the year-ago period, according to data released by the General Authority for Statistics (GASTAT) on Sunday.
Moreover, Saudi oil GDP at constant prices posted a growth of 1.04% in the three-month period ended 31 March, compared to 0.53% in Q1-18.
In May, the International Monetary Fund (IMF) expected the kingdom’s economic growth to slow down to 1.9% in 2019.
In addition, Moody's Investors Service projected Saudi Arabia’s economy to rise by 2% to 2.5% annually over the coming five years.
