Saudi Arabia: 2012 Year in Review

Saudi-Arabia year in review

The outlook continues to look bright and positive for Saudi Arabia.  First of all, Saudi Arabia reported a budget surplus of 386 billion SR (US$102.93 billion).  Concurrent to the positive budget surplus, King Abdullah announced a record budget of expenditures in 2013 in the amount of US$218.7 billion and forecasted revenues of US$221 billion.

With such a surplus and anticipated revenues there will be further investments and expansions in the Saudi construction industry, education, medical sector and introduction of mortgages.

Another major shift which began in 2012 and continues with even greater emphasis is for the Kingdom to hire more Saudis to fulfill positions held by expatriates.  According to the Ministry of Labor, as of November 2012 there were circa 448,000 Saudis seeking jobs yet 80 per cent of private sector jobs were held by expatriates.

The Oxford Business group provides an excellent overview of Saudi Arabia 2012 year in review.

Saudi Arabia has made some forward progress on rights for women.  Although some religious clerics continue to challenge the law which allows women to work as sales clerks, this is a significant positive achievement for women in the Kingdom.

Saudi Arabia continues to need mandatory changes on its allowance of controversial marriages and divorce laws.

However, in conclusion, Saudi Arabia, has a bright outlook on stability and security and economic growth under its continued leadership by King Abdullah.


Get every new post delivered to your Inbox.

Join 1,277 other followers

%d bloggers like this: