|Date:||July 3, 2014|
|Length:||2 / 340|
|No of views:||0|
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Nonetheless, the fiscal framework could be further strengthened by anchoring budgets in a medium-term setting and by managing the oil wealth with an explicit long-term, intergenerational perspective.
Policymakers have long understood the importance of structural reforms to boost job creation and diversify the economy, which is now compounded by the need to address supply constraints that contribute to inflation...
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As an outcome of the sweeping structural reforms already undertaken, the International Finance Corporation's Doing Business report ranked Saudi Arabia first among Arab countries for three consecutive years and twenty-third globally in 2008.
But in order to consolidate these gains and further diversify the economy, the authorities will need to implement vigorously the planned second-generation reforms critical to private sector development and employment creation, notably improvements in education, financial sector deepening, contract enforcement, and the modernization of the legal system...
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