{"id":4687,"date":"2023-11-01T06:08:19","date_gmt":"2023-11-01T04:08:19","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=4687"},"modified":"2023-11-01T06:08:19","modified_gmt":"2023-11-01T04:08:19","slug":"saudi-arabias-economy-shrinks-by-most-since-2020","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=4687","title":{"rendered":"Saudi Arabia\u2019s economy shrinks by most since 2020"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"auto\">Saudi Arabia&#8217;s economy suffered its biggest contraction since 2020 in the Q3 after the kingdom cut oil production to boost prices.<\/p>\n<p>GDP shrunk 4.5% in the third quarter compared to a year earlier, driven by a 17% drop in the oil economy, according to preliminary data by the General Authority of Statistics.<\/p>\n<p>Growth in the non-oil economy also slowed.<\/p>\n<p>This is the largest decline in three years since the coronavirus pandemic and the first drop in production since the start of 2021.<\/p>\n<p>In July, the world&#8217;s largest oil exporter unilaterally cut oil production to 9 million barrels per day.<\/p>\n<p>The kingdom is now producing almost 1 million barrels a day less than its average over the past decade and is likely to remain at its current production level until at least the end of this year.<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia&#8217;s economy suffered its biggest contraction since 2020 in the Q3 after the kingdom cut oil production to boost prices. GDP shrunk 4.5% in the third quarter compared to a year earlier, driven by a 17% drop in the oil economy, according to preliminary data by the General Authority of Statistics. Growth in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-4687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4687"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/4688"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}