Saudi Economy Shrank at Slower Pace Before Houthi War Escalation

Saudi Arabia's economy experienced contraction, albeit at a slower rate, signaling one of the worst performances in recent years, even before the recent surge in conflict with the Houthi rebels. The slowdown underscores the economic vulnerabilities in the kingdom, driven largely by fluctuating oil prices and global market conditions. This economic struggle could influence Saudi Arabia's strategic decisions and its ability to invest in diversification efforts amidst ongoing regional tensions. For a more detailed analysis, check out the full article on Bloomberg.