Saudi economy sees V-shaped recovery after conflict shock, says Gulf International Bank economist
JEDDAH: Saudi Arabia’s economy suffered a brief but significant shock during the recent US-Israel conflict with Iran before staging a swift V-shaped recovery, according to an economic adviser.
Speaking during a panel discussion at the Future Hospitality Summit in Riyadh, Rima Bhatia, group economic advisor at Gulf International Bank, said it was important to assess the Kingdom’s economy in the context of the recent conflict.
While the economy experienced a sharp initial decline, Bhatia underlined that “surprisingly, this downturn proved to be very temporary.”
The Kingdom’s economic outlook continues to be supported by strong non-oil sector growth, rising private-sector investment, and ongoing reforms under Saudi Vision 2030.
