Saudi economy accelerates in second-quarter but private sector still sluggish | Reuters:
Saudi Arabia’s economy grew in the second quarter at its fastest pace for over a year but the private sector remained sluggish, weighed down by austerity steps and a drive to push more Saudi citizens into jobs, official data showed on Sunday.
Gross domestic product, adjusted for inflation, expanded 1.6 percent from a year earlier in the April-June quarter. That was up from 1.2 percent in the first quarter and the fastest growth since the fourth quarter of 2016.
But the pick-up was mainly due to the government sector, where growth jumped to 4.0 percent from 2.7 percent as authorities boosted spending, the data showed.
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