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Saudi GDP growth will hinge on OPEC+ decision

After exiting recession in Q1, Saudi Arabia’s economy should continue to expand over the rest of this year on the back of strong private non-oil growth and higher oil output. But next month’s OPEC meeting is likely to be a close call and if the group (led by the Kingdom) decides to keep output unchanged for even longer, Saudi Arabia’s GDP growth is likely to be weaker this year than we currently expect.

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