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FINANCIAL NEWS
Saudi Arabia’s public finances stabilizing by 2020
19 Jun 2017
(MENAFN) The launch of the Fiscal Balance 2020 Program in the second half of the year, the MSCI EM watch list and a possible Aramco IPO in 2018 are likely to mark the start of a fundamental transformation of its economy.
Accordingly, stabilizing Forex reserves will need oil prices rebounding above USD50 bbl and a moderation in capital outflows.
Meanwhile, analysts predict comprehensive reforms under Fiscal Balance 2020 Program over the period for the second half of this year amid 2020.
Moreover, these reforms will fundamentally transform the economy’s growth model by removing some sources of competitive advantages in the private sector.
MENAFN1906201700450000ID1095567170
MENAFN1906201700450000ID1095567170
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