Saudi Arabia to overtake India in economic progress

Agencies | Riyadh

The Daily Tribune – www.newsofbahrain.com

Saudi Arabia is set to overtake India as the fastest-growing major economy in 2023, driven by gains from energy prices.

According to official data released by India’s Ministry of Statistics and Program Implementation, Saudi Arabia is expected to outpace India with 7.6 percent gross domestic product growth as the rising revenues from higher energy prices continue to bolster the Kingdom’s economy.

This puts India in the second position with an expected GDP growth rate of 7 percent in the fiscal year ending March, as weakening demand has hampered the growth prospects of Asia’s third-largest economy.