Realizacja projektu Vision 2030 w Arabii Saudyjskiej

Między marzeniami a realiami budżetowymi

Abstract

IMPLEMENTATION OF THE VISION 2030 PROJECT IN SAUDI ARABIA: BETWEEN DREAMS AND BUDGET REALITY

The article presents the assumptions of the Vision 2030 program and verifies their implementation by 2023/24. The feasibility of achieving the assumptions by 2030 is also assessed. Social transformation plans are close to being realized, while most economic targets are impossible to achieve (targeted levels of GDP growth, increased assets of the Public Investment Fund, increased private sector share in GDP, and increased exports in the non-oil sector). Significant progress has been achieved in all these areas, but too little to achieve the intended results. Only the projected reduction in the unemployment rate is possible. The budget has not been balanced, although its deficit has been reduced. The budget’s dependence on oil revenues has not been significantly reduced. Furthermore, the implementation of Vision 2030 has been associated with a significant reduction in reserves and an increase in public debt, although both indicators are under control.