🇸🇦🇾🇪 The IMF says Houthi attacks are barely denting Saudi Arabia’s economy so far
Iran’s blockade of Hormuz and the Houthis’ own sea blockade have squeezed Saudi oil exports, but ships are still getting through.
The IMF’s Middle East chief says strong spending at home and a big public sector are keeping the damage “limited.”
The whole region is still feeling it. Every Gulf country except Oman, Saudi Arabia included, is producing less oil and gas this year, and the region’s economy is set to shrink by 4.8%.
The IMF does expect a big bounce back of around 9% next year, but with U.S.-Iran talks stuck, there’s still a lot that could go wrong.
With Houthi strikes still hitting places like Riyadh’s airport this month, how long “limited” stays limited is the real question.
Source: AFP / Writer: Daniyal
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