Moody's Analytics expected Saudi Arabia's non-oil GDP to grow between 3 and 4 percent annually until 2030. According to the agency, this expected growth will push the non-oil economy to constitute about 56 percent of the Kingdom's GDP. On the other hand, Moody's expected the oil sector's growth to be between 0.5 and 1.5 percent after 2025.
Saudi Arabia aims to diversify its economy in order to prepare for the “post-oil” era, and to strengthen its role on the global stage, which prompted it to launch Vision 2030 in 2016. With the end of half the term and the vision entering the countdown, it appears that the Kingdom is moving steadily towards achieving its goals. In multiple fields, according to a study by PricewaterhouseCoopers.
Source (Al-Rai Kuwaiti newspaper, adapted)
