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Saudi Arabia's economic strength to grow 60% by 2030
Posted on September 30, 2022 |
- Saudi Arabia’s gross domestic product will be 60% more resilient to shocks, including instabilities in oil prices, by 2030.
- The economic reforms of Vision 2030 will make household spending in Saudi Arabia 40% less weak to fluctuations, which will stabilize economic activity, and increase employment rates, per capita income, and social welfare levels.
- Vision 2030 implemented many structural reforms, which increased flexibility and reduce the impact of price fluctuations on the Saudi economy.
- The Kingdom will increase its oil production capacity by 1 million barrels per day in the coming years and will continue to benefit from the reforms implemented in 2016 to enhance the business environment and strengthen the private sector.