Saudi Arabia is one of the fastest-growing economies worldwide, with the World Bank reporting in October that its gross domestic product (GDP) is likely to have expanded by 8.3 percent in 2022.
According to the Ministry of Finance, this remarkable performance is being "driven by real GDP growth in oil activities and sustained levels of growth in the real GDP of non-oil activities." Increasing and diversifying nonoil revenues is a central objective of the groundbreaking Saudi Vision 2030 plan that was launched by Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud in 2016, explains Ajlan bin Abdulaziz Al Ajlan, chairman of the Federation of Saudi Chambers (FSC), the umbrella body for the kingdom's business community: "Since 2016, the process to advance Saudi Arabia's economic and commercial systems has not stopped and the economy has witnessed a substantial transformation within that time."
This story is from the February 03-10, 2023 (Double Issue) edition of Newsweek US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 03-10, 2023 (Double Issue) edition of Newsweek US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
The States Keeping Their Children Hungry
The Summer Electronic Benefit Transfer could help feed millions of children in households experiencing food insecurity, yet 13 states have declined to participate in the program
The Secret to Being an ADHD Whisperer
Loosening up and ceding control are some of the most important strategies for making life easier for a neurodiverse loved one
Fertility Clinics 2024
FOR THOSE LOOKING TO EXPAN D THEIR FAMILIES, FERTILITY CLINICS CAN BE A VITAL OPTION
'I AM ALWAYS IN THE MOMENT'
India's prime minister on his goals, his critics and his 'god-gifted' ability to listen
MODI'S MOMENT
INDIA'S LEADER is SHAPING the COUNTRY in his OWN ASSERTIVE IMAGE
Resurgence of Global Mayhem
While the world watches Gaza, ISIS is gaining strength and momentum, building networks and preparing for strikes worldwide
Is It Time to Leave Syria?
The U.S. is reportedly considering withdrawing from the country, with pressure from Damascus amid deepening unrest in the region. Is this the right move? Two experts weigh in
Chris Perfetti
IF YOU'RE ONE OF THE MILLIONS OF AMERICANS SINGING THE PRAISES of ABC's Abbott Elementary, fear not, they've heard you. \"We love to hear it,\" says Chris Perfetti, who plays Jacob Hill on the Emmy-winning sitcom about teachers at a Philadelphia public school.
Divine Intervention
POPE FRANCIS' PROGRESSIVE REPOSITIONING OF THE CATHOLIC CHURCH HAS CREATED BATTLE LINES BETWEEN ITS 1.3 BILLION FOLLOWERS, NO MORE SO THAN IN THE UNITED STATES
Who Rules Gaza When the Fighting Stops?
With no clear leader coming to the fore, questions remain about how the devastated territory will be managed