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Asharq Al-Awsat
Asharq Al-Awsat
Business
Riyadh - Asharq Al-Awsat

Saudi Arabia Set to Become World’s Fastest-Growing Major Economy in 2023

Saudi Arabia Economy GaStat General Authority for Statistics India Oil Kingdom
The Saudi economy is witnessing rapid growth, according to reports issued by international agencies (Asharq Al-Awsat)

Saudi Arabia is set to overtake India as the fastest-growing major economy in 2023 after the latter lost growth due to weak demand at home and abroad.

The Kingdom’s real gross domestic product grew by 8.8 % in the third quarter of 2022 compared to the same period in 2021, driven by an increase in oil activities, according to a report released by the General Authority for Statistics (GASTAT).

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