The International Monetary Fund backed Saudi Arabia's sweeping economic reform plan on Thursday and said the kingdom was cutting spending at the right speed to cope with a huge state budget deficit caused by low oil prices.
The World Bank has approved a five-year plan to lend Tunisia up to $5 billion to support economic reforms aimed at reviving growth and creating jobs, the bank said on Wednesday.
The North African country is struggling with lower t
Saudi Arabia will implement by the middle of 2017 planned reforms to stimulate the stock market and open it wider to foreign investment, the Capital Market Authority (CMA) said on Thursday.
"The amended rules will be publishe
Saudi Deputy Crown Prince Mohammed bin Salman got a standing ovation when he visited a gathering of Saudi youth last month. Last week, after hearing about his economic plans in a meeting with religious leaders, one of the kingdom's conservat
International Monetary Fund (IMF) has welcomed the substantial fiscal measures Bahrain has implemented, including on energy price reform, to safeguard macroeconomic stability.
Nonetheless, additional efforts are needed to further
The unprecedented reform effort announced by Saudi Deputy Crown Prince Mohammed Bin Salman would set the stage for the kingdom to emerge as a major economic powerhouse, with lower dependence on oil, says an Al Rajhi Capital report.
A sweeping economic reform plan announced by Saudi Arabia on Monday pleased the financial markets and many analysts who felt the changes will make the economy more dynamic.
Deputy Crown Prince Mohammed bin Salman promised to inves
Top oil exporter Saudi Arabia plans to generate 9.5 gigawatts of electricity from renewable energy by 2030, it said on Monday as it approved its Vision 2030 reform plan.
The plan, a package of economic and social policies is desig
Saudi Arabia Deputy Crown Prince Mohammed bin Salman today unveiled ambitious economic plans aimed at ending the kingdom's "addiction" to oil and transforming it into a global investment power.
Prince Mohammed said R
Saudi Arabia's cabinet agreed to implement a broad reform plan known as Vision 2030, which is expected to involve sweeping change to diversify the economy beyond dependence on oil exports, state media reported on Monday.