Correction of Socio-Economic Model of Saudi Arabia
Journal: International Trade and Trade Policy
Year: 2024

The economic reforms in Saudi Arabia in 2016-2023 and their preliminary results are considered. The socio-economic model of Saudi Arabia, which existed in 1962-2015, is characterized in the article, it is determined that the model`s maintenance has objective limits due to rapid population growth on the one side with a constant level of oil production on the other. In this regard, the objective causality of the reforms that began in Saudi Arabia in 2016 is illustrated. It is shown that the reform