The Middle East, May 1st, 2000
After a difficult year, Saudi Arabia's economy looks set to make major gains this year despite the expected fall in world oil prices. The long-awaited implementation of reforms to encourage the private sector and foreign investment is adding to the optimism, as is the prospect of a go-ahead for huge new projects in oil, gas and petrochemicals, as well as in utilities and infrastructure. Although OPEC ministers in March decided to take measures to ease the world's oil supply, industry analysts and traders say the effect on Saudi Arabia's exports could be relatively small. Before the move, the ...
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