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Saudi Arabia Adopts Stimulus, Privatization to Raise Revenues, Reduce Expenses
Published in Saudi Press Agency on 18 - 07 - 2017

A specialized economic affairs' magazine noted a number of incentives, initiatives and plans that are currently adopted by the pertinent authorities, in the Saudi economy aimed at raising revenues, saving expenditures and supporting the general financial conditions, affected by the fall in oil prices.
An economic report published by Al-Eqtisad Journal, published by Al-Sharqiya Chamber, in July 2017 issue, reported that the government has managed to cut costs by $ 4.5 billion, in the first quarter of this year, a figure that exceeds expectations and fully reflects cost reduction potential and provides for significant savings, in the future, according to the report.
The report entitled "The Saudi Economy on the Track of Stimulus" features a new road map that seeks to counter fluctuations of oil and its variables by stimulating and encouraging all sectors of the Saudi economy to be present in figures, a multi-resource economy playing yard.
Saudi Arabia is open to understanding the experiences of developed countries, in the economic reform, so it will spend SR 200 billion to revive and grow the national economy, in four years, through the launch of the parallel financial market "Growth" which comes within the efforts of activating the movement of companies to prepare for public subscription, drawing attention to the efforts of a number of ministries and government agencies concerned with the economy and planning to develop a short-term roadmap for revamping the private sector and put the growth rate of the sector to 65% in 2030, making the Kingdom the 15 strongest economy in the world, growing at 10% per annum, the report concluded.


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