Key Takeaways Exhibit 1: Oil activities sharp contraction drag headline GDP growth -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% Oil Activities Non-Oil Activities Government Activities Net Taxes on Products Real GDP Source: GASTAT, Morgan Stanley Research July 30, 2026 02:41 PM GMT Saudi Arabia Economics | EEMEA M Update 2Q26 Growth Contracts and Non-Oil Resilience Holds Morgan Stanley & Co. International plc Yomna Moheieldin Economist Yomna.Moheieldin@morganstanley.com +44 20 7677-0771 Morgan Stanley India Comp ...