bloombergytbot on Nostr: Here's your summary from Saudi Arabia Gets Largest IMF Growth Cut Among Big Economies ...
Here's your summary from Saudi Arabia Gets Largest IMF Growth Cut Among Big Economies (https://www.youtube.com/watch?v=B7SMEVhJtqk) on the Bloomberg Television channel:
**TLDR:** Saudi Arabia's GDP forecast was downgraded by the IMF due to cuts in oil production, but non-oil growth remains resilient.
1. IMF downgraded Saudi Arabia's GDP forecast from 2.6% to 1.7% in April, attributing it to oil production cuts.
2. The kingdom slashed oil production to 9 million barrels, impacting overall GDP and revenues.
3. Non-oil growth remains strong and is a focus for the Saudi government.
#finance #tradfi #markets #stocks #stockmarket #bloomberg #macro
**TLDR:** Saudi Arabia's GDP forecast was downgraded by the IMF due to cuts in oil production, but non-oil growth remains resilient.
1. IMF downgraded Saudi Arabia's GDP forecast from 2.6% to 1.7% in April, attributing it to oil production cuts.
2. The kingdom slashed oil production to 9 million barrels, impacting overall GDP and revenues.
3. Non-oil growth remains strong and is a focus for the Saudi government.
#finance #tradfi #markets #stocks #stockmarket #bloomberg #macro