The revenue raised from outgoing shipments of oil fund the government’s social and infrastructural programmes, and are therefore central to the Kingdom’s economy. The onset of the Covid-19 pandemic in the first quarter of 2020 has slowed economic activity and reduced investor sentiment around the world, thus its effect on the Kingdom’s trading activity and inward investment is yet to be seen....
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Chapter | Trade & Investment from The Report: Saudi Arabia 2020
Four years after the launch of Saudi Arabia’s comprehensive development strategy, Vision 2030, the Kingdom’s non-oil economy is starting to see the benefits of sustained reform. Any decrease in revenue caused by lower oil prices is a significant challenge and presents a downside risk for the economy. Actions taken by the government to mitigate the effects of both the depressed oil price...
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.
Economic update | Digital solutions offer hope for Nigeria as it begins phased easing of Covid-19 lockdown
5 May 2020
As Nigeria scales back its coronavirus restrictions, the country is looking to digital innovation to ease the impact of an economic slowdown and maintain food security.
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).