Saudi Arabia faces economic contraction as war woes mount
The IMF said regional war risks and a longer Strait of Hormuz closure will also cut the Middle East economy by 0.3% this year.
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7 Articles
Radio France Internationale
Saudi Arabia faces economic contraction as war woes mount
Saudi Arabia's GDP is expected to shrink by 3.3 percent, the International Monetary Fund said in its latest World Economic Outlook report, predicting a regional drop over Iran's blockading of the Strait of Hormuz. The report was compiled before 13 people were killed on Saturday -- the deadliest attack in Saudi Arabia in more than a decade -- during a series of lethal Houthi strikes on Riyadh's international airport. The kingdom was already facin…
Riyadh: Saudi Arabia, the world ' s largest oil exporter, is facing an economic downturn this year, as announced by the International Monetary Fund (IMF) on Tuesday, at a time when Al-Houthi ' s attacks are increasing pressure on the Kingdom, which is already suffering from the aftermath of the war in the Middle East.
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