Saudi’s macro-economic forecast is solid and shows how resilient the economy has been after the initial pandemic-related shock. In the years leading up to 2019, Saudi was on a course which gradually reduced deficits, increased employment and increased public debt
Vision 2030 requires the Kingdom to reduce and eventually eliminate dependence on oil and what greater indicator of that dependence than state spending which correlates positively with the oil price? So, have they changed?
The geopolitical philosophy of Saudi Arabia in 2021 can perhaps best be described as one of quieter assertiveness. The days of robust interventionism, bellicose rhetoric and reckless adventurism, are over. But so, too, are the days of timidity, sloth, and opaque insular quiescence.