Saudi economic transformation reduces impact of global shocks, analyst says

Economic analyst Eid Al-Eid said that the transformation of Saudi Arabia's economy has become evident, with the country now less affected by global shocks thanks to economic reforms and income diversification.

Speaking to Al-Ikhbariya Radio, Al-Eid added that the changes in the Kingdom's economy have greatly limited the impact of external shocks due to the significant diversification achieved.

He noted that Saudi Arabia no longer relies primarily on oil revenues for economic stability. While oil remains an important source of income, its influence is now less significant. He also pointed out that in recent years, the Kingdom has taken steps to address such shocks, including establishing the East-West pipeline, which has helped stabilize global oil supplies.

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