Saudi Arabia’s Dependency on Oil Will Continue

Oil continues to make up about 60% of Saudi Arabia’s revenues and accounts for more than 65% of the Kingdom’s exports. This is a far cry from a decade ago when Crown Prince, Mohammed bin Salman, said the country’s economy would be able to survive without oil by 2020. Monica Malik, Chief Economist, Abu Dhabi Commercial Bank told Bloomberg’s Horizons Middle East and Africa anchor Joumanna Bercetche about the country’s plan to divest from oil.