Far-reaching changes to modernize and diversify Saudi Arabia's economy are afoot – and not a moment too soon. The recent collapse in the price of oil, together with a growing demographic bulge, are generated huge social pressures in the kingdom.
RIYADH – Over the past few weeks, the government of Saudi Arabia has been engaged in an unprecedented strategic policy review that could have ramifications for every aspect of the country’s social and economic life. The full details are expected to be announced in January, but it is already clear that the kingdom – the world’s nineteenth-largest economy – is in desperate need of far-reaching reform.
RIYADH – Over the past few weeks, the government of Saudi Arabia has been engaged in an unprecedented strategic policy review that could have ramifications for every aspect of the country’s social and economic life. The full details are expected to be announced in January, but it is already clear that the kingdom – the world’s nineteenth-largest economy – is in desperate need of far-reaching reform.