Nearly two years after oil prices began their precipitous decline, leading global producers are facing the prospect of major adjustments that will have far-reaching economic, social, and political consequences. In this context, how viable is Saudi Arabia new Vision 2030 plan for ensuring sustainable long-term growth?
BEIRUT – Nearly two years after oil prices began their precipitous decline, leading global producers are facing the prospect of major adjustments that will have far-reaching economic, social, and political consequences. While such adjustments will surely be enormously challenging – especially for middle-income countries like Saudi Arabia, which lack the massive wealth funds of, say, the United Arab Emirates – they present these countries with an important opportunity to consider more productive ways to organize their societies.
BEIRUT – Nearly two years after oil prices began their precipitous decline, leading global producers are facing the prospect of major adjustments that will have far-reaching economic, social, and political consequences. While such adjustments will surely be enormously challenging – especially for middle-income countries like Saudi Arabia, which lack the massive wealth funds of, say, the United Arab Emirates – they present these countries with an important opportunity to consider more productive ways to organize their societies.