Progress report on Vision 2030: so far, so good

Saudi Arabia’s almost simultaneous publication of revised economic statistics and full year figures from Saudi Aramco was a good occasion to assess the journey along the road towards the Vision 2030 diversification goals.

The verdict from this snapshot of economic progress, roughly halfway through the transformation strategy, has to be: so far, so good.

The official figures on economic growth in the kingdom in 2023 confirmed what we already knew in broad outline: that reduced oil volumes over the past year would be a drag on the overall economic performance, despite crude prices remaining relatively high.