Abstract
Saudi Arabia has made it abundantly clear that it wants to look to a future beyond oil, as the crash in crude oil prices that began in 2014 left the country with a gaping budget deficit, although the National Transformation Plan aims for a balanced budget by 2020 as discussed in earlier chapters. Some of this would be achieved through efficiency reviews of current and planned projects with some SR 17 bn of cost cuts ($4.53 bn) and savings in the first quarter of 2017 (Arab News 2017). The key aim was to pursue the reform plans aimed at shifting the economy away from reliance on hydrocarbon revenues and paring back support for a generous welfare state to cope with the reduction in crude prices in the face of a resurgent US shale output.
The weakest link in the chain is the strongest, because it can break it.
Stanislaw Lec.
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Ramady, M.A. (2018). The Aramco IPO: Governance, Listing, Options, and Policy Implications. In: Saudi Aramco 2030. Springer, Cham. https://doi.org/10.1007/978-3-319-67750-7_5
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