February 2004
Middle East;Feb2004, Issue 342, p65
This article presents information on the book "Economic Development in Saudi Arabia," written by Rodney Wilson. The changing political situation in the Middle East poses challenges for the economies of the region and some see none more vulnerable to collapse than Saudi Arabia. Yet as this study demonstrates, the fundamentals of the kingdom's economy are relatively robust, as over three quarters of gross domestic product is accounted for by the non-oil sector, and impressive modern industries have been established, notably in petrochemicals. The financial system function's well and despite substantial government debts, there is low inflation and currency stability. The private sector increasingly drives the economy, although job creation has been insufficient to prevent rising youth unemployment.


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