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Saudi Arabian inflation rose to 3.4% in 2020, lifted by the tripling of value-added tax last year as the kingdom sought to boost state revenues hit by the coronavirus crisis and lower oil prices, government data showed.
Vast wealth and the promise of dramatic change make for cautious optimism concerning Saudi Arabia, the chief executive…
0 Views | the publication reaches you by | Saudi Arabia TodayInflation spiked in the second half of last year due to the VAT hike to 15%.
The world’s largest oil exporter’s economy contracted sharply last year, but data suggests the rate of decline slowed in the third quarter data as some COVID-19 restrictions were lifted.
Business surveys in recent months showed a rebound in economic activity, partly due to pent up consumer demand, although economists have said the VAT hike has weighed on the pace of recovery.
The project for the design, engineering and procurement of the new 400,000m3/day Jubail II seawater reverse osmosis (SWRO)…
0 Views | the publication reaches you by | Saudi Arabia Today
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).