Slumping economy overhangs Saudi reforms as officials, businessmen meet | ZAWYA MENA Edition:
"A slump in Saudi Arabia's economy cast a shadow over ambitious plans for reform this week as top officials met businessmen to discuss freeing the kingdom from its dependence on oil exports.
At a conference with hundreds of foreign and local bankers and potential investors, ministers said privatisations and partnerships between the government and private companies to build infrastructure projects would begin within months.
They pointed to major successes since Crown Prince Mohammed bin Salman launched the reform programme in April 2016. A huge state budget deficit, which threatened the stability of the currency, is shrinking. Foreign portfolio funds are pouring into the country after a revamp of the stock market."
'via Blog this'
No comments:
Post a Comment