Saudi Arabia’s National Transformation Plan (NTP) is as complex as it is ambitious. What is, in effect, the wholesale redesign of the country’s economy is leaving few private or public sector actors untouched.
A sustained lower oil price environment is underscoring the urgency of this reform plan, as the government grapples with twin challenges of reduced oil revenues and sluggish non-oil growth. The International Monetary Fund expects the economy to expand by just 0.1% this year as the impact of this environment begins to bite.
