Saudi Arabia continues to make significant progress on reforms, with strong domestic demand continuing to maintain non-oil sector growth, the International Monetary Fund (IMF) revealed. According to the IMF, fiscal reforms, including tax adjustments, have doubled non-oil revenues over the past five years. The IMF has shown that the Kingdom is making significant progress on reforms, with strong domestic demand maintaining strong non-oil growth. As a result, the difference between potential and actual tax revenues was about 9 percent in the Kingdom compared to about 15 percent across the GCC.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
