Riyadh – Mubasher: Saudi Arabia’s economy has seen a leap during the second quarter of 2018, amid expectations to continue growth in the coming period in line with a rise in oil prices and large investments in the non-oil sector, Capital Economics said.
The London-based research firm forecast that the Kingdom's oil production will increase, especially after Iran, the Organization of Petroleum Exporting Countries’ (OPEC) third-largest producer, suspended its supplies.
Capital Economics further noted that it will reconsider its future outlook for the Middle East and North Africa (MENA region) in Q4-18.
On a related note, the GCC nation’s gross domestic product (GDP) in constant prices amounted to SAR 639.25 billion by the end of second quarter of 2018, up from SAR 629.1 billion in Q2-17.
