Riyadh, Saudi Arabia.
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Saudi Arabia’s fourth-quarter real GDP fell 3.7% year-on-year, according to flash estimates published by the General Authority for Statistics on Wednesday.
That’s a smaller drop than the 4.4% year-on-year slide in the third quarter.
The drop was attributed to a 16.4% decline in oil activities, while non-oil activities and government activities expanded by 4.3% and 3.1%, respectively, year-on-year.
For the full year, the kingdom’s economy shrank 0.9%, according to government data.
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This article was originally published by Cnbc.com. Read the original article here.