Riyadh-Sana
Economic data released today showed that the economy of the Saudi regime shrank 0.46 percent in the third quarter of this year, on an annual basis, affected by the drop in oil prices.
Reuters quoted data of the General Authority for Statistics of the Saudi system as saying that the output of the oil sector fell by 6.33 percent, which led to the economy contracting by 19.9 percent in the third quarter on a quarterly basis.
These data come after the Saudi system reduced its budget in economic growth forecasts to 0.4 percent in 2019 from 0.9 percent, with this growth affected by the drop in oil prices.
And the deficit in the budget of the Saudi regime continues for the seventh consecutive year, in light of the continuation of its aggressive war on Yemen, its support and financing for terrorist organizations in Syria, and its reckless policies in the region, which drained many of its resources, the largest of which is oil.
