The Impact of Changes In Oil Prices and Fiscal Policies on Economic Growth In Saudi Arabia

Abstract

This research aims to understand how global oil price fluctuations and Saudi Arabia’s fiscal policies affect its economy. The country relies heavily on income from oil sales. As Saudi Arabia prepares for Vision 2030 -- a plan to make its economy less dependent on petroleum -- it becomes even more crucial to grasp what role government financial strategies will play. The research also provides a thorough examination of ways in which governmental actions can encourage sustainable development and/or reduce negative effects of oil price swings. In doing so, it offers insights that may be useful for other nations with similar concerns worldwide -- all while taking into account past policy changes as well.