SAUDI: Deficit narrows sharply and the economic recovery continues

GULF COUNTRIES - Report 10 Aug 2021 by Justin Alexander

* The deficit narrowed to -0.6% of GDP in Q2, and we forecast -1.1% for 2021 overall.
* Higher oil prices or greater remittance of sovereign wealth returns could even generate a surplus.
* Real GDP grew by 1.5% y/y in Q2, and we forecast 2.3% for 2021 as a whole.

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