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.
With the coronavirus pandemic placing pressure on international trade and global supply chains, Kuwait has moved to strengthen its food security through increased international cooperation and investment in agriculture technology (agri-tech).
What role can the banking sector play in helping realise Vision 2030’s goals, particularly in terms of expanding the role of small and medium-sized enterprises (SMEs)?
The onset of a coronavirus-induced global recession has affected both labour markets and financial flows across the world. At the confluence of these two are remittances, which have increasingly been among the top contributors to GDP in many emerging markets over recent decades.
As the economic effects of the coronavirus pandemic continue to be felt globally, Abu Dhabi has sought to support small and medium-sized enterprises (SMEs) with stimulus measures, while cloud services offered by local data centres are making it easier for people to work and study from home.
The dramatic slowdown in industrial production, energy demand and transport activity in the first quarter of 2020 has led to significantly lower levels of air pollution, sparking debate over whether the coronavirus outbreak will lead to permanent shifts in consumer and industrial behaviours that could reorient economic policy towards sustainable development goals.
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