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In August 2023, at the 15th BRICS Summit, South African President Cyril Ramaphosa announced that 6 emerging market group countries (Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates) had been invited to join the bloc. Full membership was scheduled to take effect on 1 January 2024.
Saudi Arabia GDP for 2020 was $734.27B, a 12.44% decline from 2019 which was $838.56B. GDP growth rate in 2019 Q4 was 0.9% and in 2020 Q4 the GDP grew to 1.5% which is an expansion to the economy GDP. Overall, the Saudi Arabian economy had a turbulent year, with high unemployment, and significant GDP contraction amidst the global health crisis ...