IslamicFinance.de

In March Saudi Arabia announced Vision 2030, a comprehensive reform plan aimed to wean Saudi Arabia off its long-term dependence on oil, sooner rather than later. The timing for these reforms is no accident. Large swings in global oil prices affect Saudi Arabia deeply, as the country’s oil export revenue stream determines its own financial strength. Saudi Arabia also faces other, wider challenges, with implications for the Kingdom have not yet fully been explored, such as its political succession.