Kicking the Oil Habit: Saudi Arabia's Vision 2030

Jan Friederich | Professor Paddy Padmanabhan

22-Sep-16 08:35

Kicking the Oil Habit: Saudi Arabia's Vision 2030

Spurred by the collapse in oil prices, Saudi Arabia has come up with Vision 2030, a plan to lower its dependence on oil exports and diversify the economy. However, the Kingdom faces a tough balancing act, as it seeks to trim its fiscal deficit through a period of prolonged low crude oil prices, whilst dealing with increasing youth unemployment.

Will Saudi Arabia be successful in achieving their Vision 2030? BFM explores.

This is a report by Lee Sheung Un and Keith Kam.

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Categories:

Tags: saudi arabia, saudi economy, economic reform, Oil prices, crude oil prices, Exports, Youth Unemployment, fiscal deficit, diversification

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