Saudi Arabia's year-on-year economic growth hit nearly 12 percent for the second quarter, led by a surging oil sector.
RIYADH - Saudi Arabia's year-on-year economic growth hit nearly 12 percent for the second quarter, led by a surging oil sector, the government's statistics agency said on Sunday.
Growth in the second quarter was 11.8 percent compared to the same period last year, according to initial"flash" estimates published by the General Authority for Statistics. Non-oil economic activities grew by 5.4 percent and government services grew by 2.2 percent compared to the second quarter of 2021, it said.
As the war got underway, Saudi Arabia and the United Arab Emirates stressed their commitment to the OPEC+ oil alliance, which Riyadh and Moscow lead, underscoring Riyadh's and Abu Dhabi's increasing independence from long-standing ally Washington.
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