U.A.E's New Tax to Generate $1.9 Billion per Year

The video discusses economic reforms in the UAE and Saudi Arabia, focusing on diversification efforts due to fluctuating oil prices. It highlights the introduction of VAT and other government measures to boost non-oil revenue. The discussion includes Saudi Arabia's projected revenue growth and upcoming changes like expat levies and subsidy reductions. The video concludes with an analysis of Saudi Arabia's fiscal performance and a positive outlook on its economic diversification journey.

What is the significance of the fiscal deficit being lower than expected in the first half of the year?

In what ways is the Saudi economy moving beyond oil, according to the discussion?