Saudi Arabia's economy is booming, unemployment is at a record low, the output gap is closed, inflation is contained, and fiscal and external buffers have been rebuilt. The continuation of Vision 2030 reforms has helped advance the country's economic diversification agenda, including through...

This chapter reviews developments in GDP over the past several decades. The analysis shows that accumulation of labor and capital explains the bulk of overall output growth since 1990, with changes in total factor productivity playing only a minor role. Moreover, while increases in total factor...

This staff report on Saudi Arabia’s 2013 Article IV Consultation discusses economic policies and development. As the largest crude oil exporter, and the only producer with significant spare capacity, Saudi Arabia plays a systemic and stabilizing role in the global oil market. In 2011,...

Saudi Arabia is the world’s largest oil exporter and has employed its spare capacity to help stabilize the global oil market, providing important support to the global economy. The associated increase in oil revenues has resulted in sharply higher fiscal and current account surpluses and...

Cover -- Contents -- Glossary -- A -- B -- C -- F -- G -- H -- I -- L -- M -- N -- P -- Q -- R -- S -- W -- Executive Summary -- I. Introduction -- II. Information and Methodology Used for the Assessment -- III. Institutional Structure -- IV. Market Structure -- V. Preconditions for Effective...

Cover -- CONTENTS -- GLOSSARY -- INTRODUCTION AND BACKGROUND -- A. Macroeconomic and Financial Sector Developments -- B. Household and Corporate Sector Developments -- C. Implementation of 2006 FSAP Recommendations -- SOUNDNESS OF THE FINANCIAL SYSTEM AND POTENTIAL RISKS -- A. Financial Crisis...