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National Transformation Program 2020 (Saudi Arabia)
The National Transformation Program (NTP) is an economic action plan put in place by the government of Saudi Arabia as part of its Vision 2030 development plan. This plan comes in the framework of the Saudi efforts to diversify its economic income away from the oil industry. History Low oil prices cut Saudi Arabia's government revenue in half since 2013. In addition to adapting to lower budgets, the government had to respond to rising demand for housing, education, electricity and water. Crown prince of Saudi Arabia Mohammad bin Salman launched the National Transformation Program to fulfill part of the goals set by the Vision 2030 program. On 22 December 2016, the Saudi government announced the NTP's Citizen’s Account Program, an update to the method of offering government subsidies for gasoline, electricity and high-cost living allowances to low and average income groups. As of March 2017, over 3 million Saudi families had registered for the program. Role The Nation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Saudi Arabia
The politics of Saudi Arabia takes place in the context of a unitary absolute monarchy along Islamic lines, where the King is both the head of state and government. Decisions are, to a large extent, made on the basis of consultation among the King, the Council of Ministers, and the country's traditional elites. Most critics regard the Saudi government as a totalitarian state. The Basic Law of Saudi Arabia contains many characteristics of what might be called a constitution in other countries. However, The Qur'an is declared to be the official constitution of the country which is governed on the basis of Islamic law (Shari'a). The Allegiance Council is responsible to determine the new King and the new Crown Prince. All citizens of full age have a right to attend, meet, and petition the king directly through the traditional tribal meeting known as the majlis. The government is dominated by the vast royal family, the Al Saud, which has often been divided by internal disputes and i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Vision 2030
Saudi Vision 2030 ( ar, رؤية السعودية ٢٠٣٠ ''ruʾyah al-suʿūdiyah'') is a strategic framework to reduce Saudi Arabia's dependence on oil, diversify its economy, and develop public service sectors such as health, education, infrastructure, recreation, and tourism. Key goals include reinforcing economic and investment activities, increasing non-oil international trade, and promoting a softer and more secular image of the Kingdom. It also consists of increasing government spending on the military, as well as manufacturing equipment and ammunition. The first details were announced on 25 April 2016 by Crown Prince Mohammed bin Salman. The Council of Ministers has tasked the Council of Economic and Development Affairs (CEDA) with identifying and monitoring the mechanisms and measures crucial for the implementation of "Saudi Arabia's Vision 2030". In 2021, ''The Guardian'' wrote despite Saudi Arabia's commitment to diversify its economy, the government was still 75 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mohammad Bin Salman
Mohammed bin Salman Al Saud ( ar, محمد بن سلمان آل سعود, translit=Muḥammad bin Salmān Āl Su‘ūd; born 31 August 1985), colloquially known by his initials MBS or MbS, is Crown Prince and Prime Minister of Saudi Arabia. He also serves as the chairman of the Council of Economic and Development Affairs and chairman of the Council of Political and Security Affairs. He is considered the ''de facto'' ruler of Saudi Arabia, being deemed as such even before his appointment as prime minister in 2022. He served as minister of defense from 2015 to 2022. He is the seventh son of King Salman. Mohammed was born as the eldest of six children to Prince Salman bin Abdulaziz and his third wife, Fahda bint Falah Al Hithlain. After obtaining a law degree from King Saud University, he served as an advisor to his father. After Salman ascended the throne in January 2015, he appointed Mohammed as minister of defense, and Mohammed was also given the role of deputy crown prince ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Citizen’s Account Program (Saudi Arabia)
The Citizen's Account Program in Saudi Arabia is a cash transfer program that started in December 2017. The program is adopted and implemented by The Ministry of Labor and Social Development. Through the programme, citizens in Saudi Arabia get monthly payments from the state. Saudi Arabia is doing many reforms to reduce the country's dependency on oil revenues, but many of these reforms have overburdened some citizens. The Citizen's Account, which is a form of basic income, is designed to balance this up, to avoid burdening lower income families which would otherwise occur despite higher prices for oil, fuel and energy. This financial support comes as a response to the increase the costs of electricity and petrol as well as the imposing of VAT on many products. In December 2017, immediately before the programme began, more than 3.7 million households had registered, representing 13 million people, or more than half the population. , between 1/5 and 1/3 of Saudi residents are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Independence
Energy independence is independence or autarky regarding energy resources, energy supply and/or energy generation by the energy industry. Energy dependence, in general, refers to mankind's general dependence on either primary or secondary energy for energy consumption (fuel, transport, automation, etc.). In a narrower sense, it may describe the dependence of one country on energy resources from another country. Energy dependence has been identified as one of several factors (energy sources diversification, energy suppliers diversification, energy sources fungibility, energy transport, market liquidity, energy resources, political stability, energy intensity, GDP) negatively contributing to energy security. Generally, a higher level of energy dependence is associated with higher risk, because of the possible interference of trade regulations, international armed conflicts, terrorist attacks, etc. A crucial contribution on the road to energy independence is energy efficiency b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of Saudi Arabia
The economy of Saudi Arabia is the largest in the Middle East and the eighteenth largest in the world. A permanent and founding member of the OPEC, Saudi Arabia is also a member of the G20 forum as one of the world's largest economies. Saudi Arabia reportedly has the third most valuable natural resource reserves in the world, mostly petroleum and natural gas. The kingdom has the second-largest proven petroleum reserves, and the fourth-largest measured natural gas reserves. Saudi Arabia is currently the largest exporter of petroleum in the world, which sees it ocassionally referred to as a Petro State in Western media. Other major parts of the economy include refining and chemical manufacturing from the oil reserves, much of which is vertically integrated in the state-owned enterprise, Saudi Aramco. The economy of Saudi Arabia functions as a petrostate, and the country plays a prominent role in the OPEC. In 2016, the Saudi government launched its Saudi Vision 2030 prog ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Saudi Arabia
The economy of Saudi Arabia is the largest in the Middle East and the eighteenth largest in the world. A permanent and founding member of the OPEC, Saudi Arabia is also a member of the G20 forum as one of the world's largest economies. Saudi Arabia reportedly has the third most valuable natural resource reserves in the world, mostly petroleum and natural gas. The kingdom has the second-largest proven petroleum reserves, and the fourth-largest measured natural gas reserves. Saudi Arabia is currently the largest exporter of petroleum in the world, which sees it ocassionally referred to as a Petro State in Western media. Other major parts of the economy include refining and chemical manufacturing from the oil reserves, much of which is vertically integrated in the state-owned enterprise, Saudi Aramco. The economy of Saudi Arabia functions as a petrostate, and the country plays a prominent role in the OPEC. In 2016, the Saudi government launched its Saudi Vision 2030 program ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
