TOINNOV - Breaking Blockchain, Crypto & ICO News

learn more
more than 10 000 people every month reads TOINNOV learn more



TOP STORIES
Yuri Morozov, founder of Bubbletone Blockchain for Telecom: "With the help of the blockchain, we can change the entire global ecosystem of telecommunications"

An interview with Bubbletone Blockchain for Telecom founder, Yuri Morozov, whose company aims to rev...



As oil prices rise to $50, Saudi Arabia can triple its non-energy revenue



On Monday, the Saudis revealed quite an ambitious plan to completely change the country’s economy.



14.Jun.16 6:36 AM
By Anastasia Sutulova
Photo INNOV.RU

   209

As oil prices rise to $50, Saudi Arabia can triple its non-energy revenue

The Saudi Arabia government has set a goal to create 450,000 non-government jobs. More importantly, they are planning to diversify the country’s economy beyond oil and related energy industries.

Moreover, the Saudis are planning to increase and, to be more precise, to triple its non-oil revenues to $154.6 billion. Exports of the non-oil products are planned to rise from $49 billion to $88 billion, while petroleum production capacity is set to remain stable at 12.5 million barrels per day.

It is still not clear how these goals are supposed to be achieved. The new document published last weak does not look like a full implementation plan. It only lists several initiatives that are planned to be launched in 2016. However, it is clear for the Kingdom’s government that more work will need to be done.




Back to the list


Related Information: