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Saudi GDP growth slows to 2.8% in first quarter as Iran war weighs on economy
Saudi Arabia's real gross domestic product grew 2.8% in the first quarter, year-on-year, preliminary government estimates showed on Thursday, slowing from 3.7% a year ago, as the economic fallout of the U.S.-Israeli war on Iran on the world's top oil exporter becomes clear. Tehran's attacks on Gulf states, in response to U.S.-Israeli strikes that began in late February, have damaged major energy facilities and disrupted shipping through the Strait of Hormuz, which would normally handle about 20% of global oil and liquefied natural gas flows. [...]