#Saudi Overhaul Under Review as Prince Said to Question Progress - Bloomberg

Saudi Overhaul Under Review as Prince Said to Question Progress - Bloomberg:

Saudi Arabia is reviewing its plan for life after oil with Crown Prince Mohammed bin Salman said to be unsatisfied with progress and the government seeking to control spending.

Officials are looking at hundreds of programs and initiatives under “Vision 2030” and could cut, merge and amend some of them, or create new ones, people familiar with the matter said. The review isn’t the first since the agenda was announced less than four years ago. 


The sprawling program aims to diversify the kingdom’s oil-dependent economy by attracting foreign investment, balancing the budget and privatizing government assets. But economists say some targets have slipped while government employees have criticized overlapping remits and priorities that conflict. The recent record initial public offering in the kingdom’s giant oil company is a key part of the revamp, raising a windfall of almost $26 billion.