Gdp Saudi Arabia 2024. It projects a recovery in gdp growth, a decline in revenues, and a rise in spending amid oil price weakness and. As a result, there was a fiscal deficit of 1.3% of gdp in h1, down from a deficit of 3.6% of gdp in h2 2023.

The figures for saudi arabia’s gdp per capita and nominal gdp show how its economy contracted in 2020 and 2023. Oil gdp contracted by 9 percent in 2023 due primarily to saudi arabia’s opec+ and voluntary oil production cuts, leading to a 0.8 percent contraction in overall gdp.