Macroeconomic Update – November 2020: (Not bad, all things considered)
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Macroeconomic Update – November 2020: (Not bad, all things considered)
A less steeper decline than expected in Q2, and a stronger recovery in Q3 has led us to revise our non-oil GDP forecast for the Kingdom in 2020. All in all, we expect non-oil GDP to decline by 2.7 percent (compared to -3 percent previously).