{"id":414274,"date":"2021-05-11T08:38:33","date_gmt":"2021-05-11T03:08:33","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=414274"},"modified":"2021-05-11T09:10:54","modified_gmt":"2021-05-11T03:40:54","slug":"saudi-non-oil-economy-grows-for-first-time-since-covid-19-pandemic","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-non-oil-economy-grows-for-first-time-since-covid-19-pandemic\/","title":{"rendered":"Saudi non-oil economy grows for first time since Covid-19 pandemic"},"content":{"rendered":"<p>Saudi Arabia\u2019s non-oil economy \u2014 the engine of job creation \u2014 grew in the first quarter for the first time since the pandemic hit, even as the overall economy was dragged into contraction by oil production cuts. <\/p>\n<p>The non-oil sector grew 3.3 per cent from a year earlier, according to preliminary estimates released on Monday by the kingdom\u2019s General Authority for Statistics. The oil sector shrank 12 per cent, the most in at least a decade according to data compiled by Bloomberg, leading the overall economy to contract 3.3 per cent. Final figures are scheduled to be released in June. <\/p>\n<p>Business in the world\u2019s largest crude exporter is gradually returning to normal after the twin crisis caused by oil market turmoil and coronavirus-related lockdowns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia\u2019s non-oil economy \u2014 the engine of job creation \u2014 grew in the first quarter for the first time since the pandemic hit, even as the overall economy was dragged into contraction by oil production cuts. The non-oil sector grew 3.3 per cent from a year earlier, according to preliminary estimates released on Monday by the kingdom\u2019s General Authority for Statistics. The oil sector shrank 12 per cent, the most in at least a decade according to data compiled by Bloomberg, leading the overall economy to contract 3.3 per cent. Final figures are scheduled to be released in June. [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-414274","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/414274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=414274"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/414274\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=414274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=414274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=414274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}