Saudi Arabia Cut to A+ from AA- by Fitch

The transcript discusses the impact of low oil prices on Saudi Arabia's public finances, leading to a downgrade in its credit rating by Fitch. It highlights the fiscal challenges faced by the country, including a significant deficit and rising government debt. The discussion also covers Saudi Arabia's ambitious reform agenda aimed at economic restructuring and reducing oil dependency. The challenges in implementing these reforms are noted, along with the potential benefits of privatization and higher oil prices. The transcript emphasizes the need for private sector growth to address demographic challenges.

What are the key components of the reform agenda that Saudi Arabia is pursuing?

In what ways could higher oil prices impact Saudi Arabia's public and external finances?