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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Saudi Arabia is privatizing the public sector following the decline in oil prices

    Rocky
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    Saudi Arabia is privatizing the public sector following the decline in oil prices Empty Saudi Arabia is privatizing the public sector following the decline in oil prices

    Post by Rocky Sun 20 Aug 2017, 4:19 am


    Saudi Arabia is privatizing the public sector following the decline in oil prices


    20/08/2017


    Saudi Arabia will begin on Sunday the privatization of 10 sectors through the formation of committees to supervise the targeted sectors, to face the decline in oil prices, which is the main source of income for the country.

    The targeted sectors include: environment, water, agriculture, air, sea and land transport, energy, industry and mineral wealth, social development, housing, education, health, municipalities, Hajj and Umrah, and communications and information technology.

    According to a previous government document, it will focus on two main programs, the Public Investment Fund and Privatization, as part of its 2030 vision to diversify the economy away from oil.

    The privatization program, one of the Government's main programs for achieving its objectives, focuses on strengthening the role of the private sector in providing health, education, transport and municipal services.

    Privatization of services is aimed at reducing costs, as competition between private sector companies ensures that services are delivered at a higher level of efficiency in terms of cost and quality, as well as facilitating access to them.

    Oil declines pushed the Saudi government to launch its first dollar-denominated state bonds last year, raising $ 17.5 billion and a $ 10 billion international loan.

    Saudi Arabia's public debt rose at the end of 2016 to 316.5 billion riyals ($ 84.4 billion), accounting for 12.3 percent of GDP at constant prices, compared with 142.2 billion riyals (about $ 38 billion), 5.9 percent of GDP in 2015.

    Saudi Arabia announced in December / December 2017 last year 's budget, with a total expenditure of 890 billion riyals ($ 237.3 billion), compared to 692 billion riyals worth of revenues (184.5 billion dollars), worth an estimated deficit of 198 billion riyals ($ 52.8 billion).


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