Saudi Arabia's macro-economic conditions are normalizing, but the risk of the second wave of COVID-19 still persists, Al Rajhi Capital said in a new report.
The Kingdom’s economic activities are improving after the contraction resulting from the pandemic, it added.
Local spending, especially in the retail, food and beverages, as well as the healthcare sectors, continues to support the economy.
According to data compiled by Argaam, the Ministry of Finance expects the real gross domestic product (GDP) to shrink by 3.8% this year amid economic improvement in the second half of 2020.
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