An increased emphasis on e-learning in Saudi Arabia’s education system, coupled with targets to modernise teaching methods, underpin a wider drive to diversify the economy away from oil and create more jobs.
Saudi Arabia
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Economic update | Saudi Arabia to keep pumping oil
25 Jun 2015
Production from Saudi Arabia’s oil fields will remain at near record levels for the next few months, with Riyadh looking to maintain above-average output despite low prices.
Falling demand and rising competition for feedstock, alongside a national push to bring the price of raw materials closer to market rates, are combining to put pressure on Saudi Arabia’s petrochemicals industry.
Chapter | Country Profile from The Report: Saudi Arabia 2014
Home to an estimated 15.9% of the world’s proven oil reserves, Saudi Arabia is the single largest economy in the Middle East and North Africa. According to the Ministry of Finance, GDP grew by 9.3% to $746bn in 2013. While oil income is expected to continue to account for the majority of government revenues for the foreseeable future, the non-oil sector has expanded significantly in recent...
Articles & Analysis | Thinking ahead: Government spending must take into account numerous short- and long-term factors from The Report: Saudi Arabia 2014
With a balanced budget for 2014, Saudi Arabia plans to spend everything it expects to earn. However, the biggest influence on revenue is the price that the Saudi Arabian Oil Company is able to charge for a barrel of its oil, meaning there is a significant margin for error in fiscal planning. In 2013 the government earned more and spent more than it...
Articles & Analysis | International partner: The country benefits from healthy trade ties with leading players from The Report: Saudi Arabia 2014
In January 2014 China’s government officials declared that in 2013 its annual trade in goods passed the $4trn mark, knocking the US off the top spot in international trade, and this shift in the axis of commerce is reflected in Saudi Arabia’s own trade relations. However, although the dramatic growth of China and other Asian economies has altered...