Saudi Non-Oil Activities to Keep Growing: Alibrahim

The video discusses Saudi Arabia's budget deficit of 101 billion riyals, representing 2.3% of GDP, and plans to trim spending in 2025. It highlights the importance of long-term economic leadership and the shift towards a non-oil economy, with 52% of GDP now from non-oil sources. The video also addresses spending overshoot in 2024 and the implementation of fiscal rules to manage future spending. The overarching goal is to achieve sustainable, diversified economic growth, minimizing reliance on oil revenues and enhancing private sector dynamics.

What does the achievement of 52% of the economy coming from non-oil sources signify?

In what ways does the diversification of the economy provide a buffer against oil price fluctuations?