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Saudi Deputy Crown Prince Mohammed bin Salman speaks to Gulf Cooperation Council defense ministers in Riyadh

Saudi Arabia’s economic reform

Spearheading the Saudi economic reforms is Deputy Crown Prince Mohammed bin Salman, seen here at a meeting of Gulf defense ministers in Riyadh (source: dpa)

General info

Location
Saudi Arabia
Date
22 June 2016
Contains
Report Scenarios
Category
Economic trends
Tags
Mohammed bin Salman oil reforms taxes

Author

Dr. Carole Nakhle

Dr. Carole Nakhle

Dr. Carole Nakhle is the founder and CEO of Crystol Energy, an advisory, research and training firm based in London. An energy economist, she specializes in international petroleum contractual arrangements and fiscal regimes; upstream oil and gas regulations; petroleum revenue ...
  • Oil price volatility has been traditional spur to failed Saudi reforms
  • This time climate change and demographic pressure make changes more urgent
  • Sale of Saudi Aramco stake may be less effective than opening market to oil majors

Saudi Arabia is once again keeping analysts busy worldwide. This time attention has been drawn by an audacious economic reform rather than by oil policy, although the two are closely intertwined. Some of the development strategy’s goals are not new and others are probably unattainable, but there seems to be a stronger will to proceed today than in the past decades. The journey will not be quick, easy or cheap.

Contents

  • Deja vu?
  • Reform triggers
  • Saudi Aramco
  • Wealth fund
  • Cynical take
  • Oil policy
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Dr. Carole Nakhle
Reformist ambitions resonate strongly during periods of low oil prices, before their urgency fades away
read more about it in the report
What's inside
  • Oil price volatility has been traditional spur to failed Saudi reforms
  • This time climate change and demographic pressure make changes more urgent
  • Sale of Saudi Aramco stake may be less effective than opening market to oil majors
Who will benefit?
  • Report is targeted to the decision makers in cross country manufacturing – suppliers, manufacturers, logistics.
  • Also considered useful for the administrative university facilities, to better understand the possible effects of current decisions.

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