Saudi Arabia to Announce Updated $2 Trillion Economic Transformation Strategy
The Kingdom’s Finance Minister confirmed plans to reveal a revised vision for its long-term economic diversification program aimed at reducing reliance on oil revenues.
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Terms & Concepts
Economic transformation plan: A government strategy aimed at diversifying and modernizing an economy, often to reduce dependence on a single sector such as oil.
Diversification: The process of expanding an economy’s range of industries and income sources to improve stability and reduce risk.