Saudi Arabia Economy

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Chapter | Country Profile from The Report: Saudi Arabia 2020

Home to an estimated 15% of the world’s proven oil reserves and as the largest economy in MENA, Saudi Arabia is a key player not only in the region, but on a global scale. Over the last few years, Saudi Arabia has attracted international attention for the momentum of its socio-economic transformation taking place under the auspices of the Vision 2030 development blueprint. In November 2020...

Saudi Arabia’s decision to weaken the link between hydrocarbons and economic growth, and pursue a policy of diversification has seen a wide range of projects come to fruition in the last several years. While at present the Covid-19 pandemic and the unprecedented plunge in oil prices are causing significant short-term uncertainty, the reforms that have been put in place in recent years should stand the Kingdom in good stead over the longer term.

As residents of Saudi Arabian cities adjust to life under curfew, the adoption of digital payment methods is being incentivised to sustain commercial activity during the coronavirus pandemic. 

A range of developments contributed to making 2019 an overall positive year for Saudi Arabia.

Saudi Arabia has rapidly been increasing its business footprint overseas, last year tripling its foreign direct investment (FDI) outflows.

International access to Saudi equities continues to grow on the back of reforms to capital markets and the recent inclusion of dozens of stocks in an influential emerging markets index.

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