Growth recovered to 2.2 percent in 2018, supported by rising oil revenues and in-creased public spending. The outlook for 2019 remains weak due to hefty oil pro-duction cuts and volatile oil prices. The 2019 budget continues the expansionary fiscal policy adopted since 2017, while being sensitive to oil price outcomes for deficit reduction. Vision 2030 related re-forms are critical for diversification and progress was made on business environment reforms. The ambitious reform agenda could pose implementation challenges for the public sector.
Macro Poverty Outlook for Saudi Arabia
value added tax; life expectancy at birth; oil; oil production; financing need; free public service; oil revenue; expatriate labor; Private Sector Growth; increase in capital; Public Sector Compensation; labor market reform; consumer price index; cost of finance; current account balance; business cost; global energy; oil supply; budget proposal; social support; global financial; oil output; low-income resident; Social Protection; Job Creation; import increase; balanced budget; public finance; fiscal issue; positive spillover; social contract; foreign labor; government plan; Oil Export; Fiscal policies; international bond; consumer spend; public debt; price shock; net outflow; factor price; dollar peg; fiscal deficit; fiscal stance; market price; percent change; Public Spending; fiscal policy; global economy; business environment; volatile oil; Bankruptcy Law
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Macro, Trade, and Investment (GMTDR)
Official version of document (may contain signatures, etc)
Macro Poverty Outlook for Saudi Arabia (Arabic). Macro Poverty Outlook (MPO) Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/602751556629416973/Macro-Poverty-Outlook-for-Saudi-Arabia