Saudi Arabia is still under the microscope of international agencies and international institutions, the reforms carried out within the vision 2030, enabled it to withstand the declines in oil prices.
Huge economic reforms carried out by the UK represented the involvement of the private sector to GDP larger, and also included the privatization of major sectors, new ministerial formations.
Vision launched by Saudi Arabia, which put it on the right track map called on international institutions to express optimism about the Saudi economy.
Among these institutions: the World Bank, which in turn described the actions taken by Saudi Arabia to confront the deficit, which after a drop in oil prices finally happened, Basulaimh and positive, which would be reflected on the financial outlook in the medium term.
According to the World Bank, it is expected that the UK’s budget deficit remains at low levels, in light of the efforts to promote non-oil resources and reducing spending, which in turn will lead to reducing the gap in the next two years.
The World Bank pointed out that Saudi Arabia has hedged in advance of the possibility of a deficit, and through the creation large financial portfolios during the last period, in addition to Kabiralve reserve owned by “Shem,” explaining at the same time that the biggest challenge for fiscal policy in Saudi Arabia, is the extent of success in controlling financial conditions while achieving an appropriate rationalization at the same time degrees.
Despite the optimism shown by the World Bank on the Saudi economy, but there are other economic reports, it warned that the policy pursued by the Saudi government to cut expenses, will put pressure on growth in the medium term ,, what may make them face the challenges of the most difficult from neighboring Gulf states.
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