Saudi Cabinet hails economic progress after non-oil activity boost

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Wed, 2024-03-20 01:31

RIYADH: Saudi ministers hailed the country’s economic progress after last week’s announcement that non-oil activity made up half of the Kingdom’s gross domestic product in 2023.

Meeting for a cabinet session on Tuesday chaired by King Salman in Jeddah, the government said the landmark achievement was in line with the Kingdom’s Vision 2030 objectives to achieve a prosperous economy by diversifying growth sources.

The Ministry of Economy and Planning said on Thursday that non-oil activity contributed to 50 percent to the GDP, the highest level ever.

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