“With the myriad challenges facing the Saudi economy, a successful recovery and evolution will require several key outcomes. The government will need to be disciplined, willing to deviate from long-established norms, and able to make decisions that will be painful in the short-term….A reform-driven period also provides the opportunity for the Saudis to be decisive and reset elements of the economy that have lagged. The economy can re-emerge with a renewed dedication to the private sector’s potential and new opportunities for youth employment. During the pandemic, the kingdom can capitalize on recent progress in the digital space, through mobile apps, government service portals, and e-commerce.”
-Bayly Winder, writing for the Carnegie Endowment for International Peace, discusses how the Saudi economy can embrace challenges brought on by a global recession and pandemic and emerge stronger in years to come. [carnegieendowment.org]
