The reality of the Saudi economy these days, however, is that its reform efforts are being pursued in word more than in deed. That date is getting ever nearer, but the prospects for a revamped Saudi economy look as distant as ever. Overall economic activity seems as reliant as ever on government spending, the vast majority of which comes from oil revenues. Next year’s non-oil revenues are predicted to rise further to SR313bn, but that is still far short of the target the government has set itself of SR530bn in non-oil revenues by 2020. Oxford Economics thinks Saudi Arabia’s oil revenues will in fact fall next year to SR580bn.

Source: Forbes December 20, 2018 15:45 UTC