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.