KSA’s reform programme in right direction, but needs to “scale up”: IMF
Saudi Arabia’s reform process is heading in the right direction, but the Kingdom needs to “scale up” in certain areas of the economy, the International Monetary Fund (IMF) said. The IMF’s Director for the Middle East and Central Asia, Jihad Azour, told journalists in Dubai that prospects for foreign direct investments (FDI) would benefit from more government measures to increase public sector involvement. “The fiscal reform process is heading in the right direction, but improving employment prospects are subject to continued structural reform and the Vision 2030 program. Allowing women to drive is expected to have a positive effect on growth, but more progress is still needed and it needs to scale up, especially in education for local skills, and allowing small-to-medium enterprises to grow with access to finance,” he said. Regarding FDIs, he said the oil industry had its own dynamic, but that other sectors were still dependent on public investment, and FDIs would come if there were more opportunities in the private sector and in SMEs.
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.