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1.96 MB
Extraction Summary
3
People
2
Organizations
1
Locations
3
Events
2
Relationships
5
Quotes
Document Information
Type:
Interview transcript / government policy document
File Size:
1.96 MB
Summary
This document appears to be a transcript of an interview with a high-ranking Saudi official (likely Mohammed bin Salman given the context of Vision 2030 initiatives) sourced from House Oversight Committee files. The text discusses economic strategies to reduce the deficit, the contribution of the Public Investment Fund to the state treasury, and contingency plans for oil prices dropping below $30 or $50. It also details the 'Citizen Account' welfare program designed to offset energy price hikes for low-to-middle income citizens and outlines a six-month timeline for measuring the impact of new programs on unemployment.
People (3)
| Name | Role | Context |
|---|---|---|
| Speaker | Government Official (Implied Saudi Leadership) |
Answering questions regarding Saudi economic policy, oil prices, and welfare programs. Uses 'We' to represent the state.
|
| Interviewer | Journalist/Interviewer |
Asking questions (text in blue) regarding economic scenarios and social programs.
|
| Saudi citizens | Population/Beneficiaries |
Recipients of the 'citizen account' support; approx 12 million registered.
|
Organizations (2)
| Name | Type | Context |
|---|---|---|
| Public Investment Fund |
Saudi sovereign wealth fund contributing revenues to the state treasury.
|
|
| Competent authorities |
Government bodies working to determine the final form of support programs.
|
Timeline (3 events)
Last two years (relative to document date)
Implementation of procedures in non-oil revenues.
Saudi Arabia
Government
Prior to interview
Registration of about 12 million citizens for information/support.
Saudi Arabia
Citizens
Government
Upcoming 6 months (relative to document date)
Impact measurement of 10 launched programs on economic indicators including unemployment.
Saudi Arabia
Government
Locations (1)
| Location | Context |
|---|---|
|
Implied by references to 'Saudi citizen', 'Public Investment Fund', and oil economy context.
|
Relationships (2)
Revenues of the Public Investment Fund... enters the treasury of the state
Government (We)
→
Governance/Support
→
Saudi Citizen
We want to redirect the support to be materially directed to the citizen.
Key Quotes (5)
"And for the first time the Public Investment Fund enters the treasury of the state tens of billions annually which is 2015, 2016, and 2017 God willing and in an increasing manner."Source
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Quote #1
"Without a doubt, if we go through a critical stage we will return to the austerity measures, but what we are working on today and the initiatives that exist today will make us stronger in the receipt of shocks."Source
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Quote #2
"The unified account of the citizen is to compensate the citizen for any rise in the prices of energy, water or the like so that the citizen of the middle income and less does not affected..."Source
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Quote #3
"About 12 million citizens have registered their information."Source
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Quote #4
"In the next six months, we will see the impact of each program that is launched on the unemployment..."Source
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Quote #5
Full Extracted Text
Complete text extracted from the document (3,010 characters)
2- There are some procedures that have been implemented in the non-oil revenues in the last two
years.
3- Revenues of the Public Investment Fund. And for the first time the Public Investment Fund
enters the treasury of the state tens of billions annually which is 2015, 2016, and 2017 God
willing and in an increasing manner.
years.
3- Revenues of the Public Investment Fund. And for the first time the Public Investment Fund
enters the treasury of the state tens of billions annually which is 2015, 2016, and 2017 God
willing and in an increasing manner.
These are the three most important factors that made the deficit fall to 44%.
* What if the price of oil falls below $ 30?
- We expect the second, third, and fourth quarters will not be below the 44% expectation because we
are back and spending again.
are back and spending again.
* What if oil returned and fell below $ 30, would we return to austerity and tighten the belt?
- Without a doubt, if we go through a critical stage we will return to the austerity measures, but what we
are working on today and the initiatives that exist today will make us stronger in the receipt of shocks.
And if our initiatives succeeded, we will need oil prices less than fifty dollars. This will make us receiving
very strong shocks without the action of tighten the belt.
are working on today and the initiatives that exist today will make us stronger in the receipt of shocks.
And if our initiatives succeeded, we will need oil prices less than fifty dollars. This will make us receiving
very strong shocks without the action of tighten the belt.
* After the return of the allowances. People began to look at the citizen account that it will not be
completed?
completed?
- The unified account of the citizen is to compensate the citizen for any rise in the prices of energy, water
or the like so that the citizen of the middle income and less does not affected, and the impact is on the
rich foreigner or citizen. Today we want to redirect the support to be materially directed to the citizen.
Middle-income or low-income earners decide to spend the amount they have spent in the past on the
same expenditure (energy, water, gasoline, or other goods), or reduce their consumption, and spend
that amount in another thing.
or the like so that the citizen of the middle income and less does not affected, and the impact is on the
rich foreigner or citizen. Today we want to redirect the support to be materially directed to the citizen.
Middle-income or low-income earners decide to spend the amount they have spent in the past on the
same expenditure (energy, water, gasoline, or other goods), or reduce their consumption, and spend
that amount in another thing.
* About 12 million citizens have registered their information. Have you started benefiting from that?
- Now, we believe that those who deserve support are less than ten million, or nearly ten million, and
the competent authorities are working to determine the final form.
the competent authorities are working to determine the final form.
* Do the ten million include the poor and the average?
- Of course, we are trying to be as generous as possible, and trying to include the largest possible
categories, even if they are above the average. So that it has a strong impact on the Saudi citizen, but to
date the details has not finished yet, and the competent authorities are working on it, and is supposed to
be finished in the coming months.
categories, even if they are above the average. So that it has a strong impact on the Saudi citizen, but to
date the details has not finished yet, and the competent authorities are working on it, and is supposed to
be finished in the coming months.
* How will you deal with future unemployment, is there a number you have?
- If you notice in the 10 programs that have been launched, that it is required from each program when
it is announced in the next six months to measure its impact on the main indicators of the economy,
including the unemployment index. In the next six months, we will see the impact of each program that
is launched on the unemployment, how would this program will provide number of jobs, and how many
percent will affect unemployment. We expect that the impact of these programs will be very strong to
it is announced in the next six months to measure its impact on the main indicators of the economy,
including the unemployment index. In the next six months, we will see the impact of each program that
is launched on the unemployment, how would this program will provide number of jobs, and how many
percent will affect unemployment. We expect that the impact of these programs will be very strong to
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