| Economic Development in Saudi Arabia Contributor(s): Al Rajhi, Ahmed (Author), Al Salamah, Abdullah (Author), Malik, Monica (Author) |
|
 |
ISBN: 1138362115 ISBN-13: 9781138362116 Publisher: Routledge OUR PRICE: $61.74 Product Type: Paperback - Other Formats Published: August 2018 |
| Additional Information |
| BISAC Categories: - Business & Economics | Development - General - Business & Economics | International - Economics - Social Science | Regional Studies |
| Dewey: 338 |
| Physical Information: 208 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: The changing political situation in the Middle East poses challenges for the economies of the region, and some see none more vulnerable to collapse than Saudi Arabia's. Yet as this study demonstrates, the fundamentals of the Kingdom's economy are relatively robust, as over three quarters of GDP is accounted for by the non-oil sector, and impressive modern industries have been established, notably in petrochemicals. The financial system functions well, and despite substantial government debts, there is low inflation and currency stability. The private sector increasingly drives the economy, although job creation has been insufficient to prevent rising youth unemployment. The development challenges Saudi Arabia faces are similar to those of other middle-income countries, and three decades of diversification have made the economy less unique than it was in the oil boom years of the 1970s. |