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2.32 MB

Extraction Summary

2
People
3
Organizations
1
Locations
2
Events
1
Relationships
3
Quotes

Document Information

Type: Interview transcript / government record
File Size: 2.32 MB
Summary

This document is a transcript of a television interview with Deputy Crown Prince Mohammed bin Salman (MBS) regarding Saudi Arabia's 'National Transformation Program' and 'Vision 2030'. In the interview, likely conducted in 2017, MBS discusses economic indicators, the doubling of non-oil revenues, the impact of falling oil prices (dropping to $27), and unemployment. The document bears a 'HOUSE_OVERSIGHT' footer, indicating it is part of a US Congressional investigation file.

People (2)

Name Role Context
Mohammed bin Salman bin Abdul Aziz Deputy Crown Prince, Second Deputy of the Prime Minister, Chairman of the Council for Economic Affairs and Development
Interviewee discussing economic reforms and Vision 2030.
The King (King Salman) King of Saudi Arabia
Mentioned by MBS as providing guidance.

Organizations (3)

Name Type Context
Council for Economic Affairs and Development
Chaired by Mohammed bin Salman.
Saudi Arabia's first channel
Broadcaster of the interview.
House Oversight Committee
Source of the document (implied by footer).

Timeline (2 events)

2016
Establishment of 2030 Vision
Saudi Arabia
Saudi Government
Circa May 2017
Television interview of Deputy Crown Prince Mohammed bin Salman
Saudi Arabia
Mohammed bin Salman

Locations (1)

Location Context
Country discussed in the interview.

Relationships (1)

Mohammed bin Salman Familial/Subordinate The King
MBS credits 'the guidance of his majesty the king'.

Key Quotes (3)

"non-oil revenues almost doubled in these years, 'the last two years from nearly 111 billion to nearly 200 billion Saudi riyals."
Source
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Quote #1
"oil prices fell very sharply in an unprecedented manner in the history of the Kingdom of Saudi Arabia... until it reached 27 dollars"
Source
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Quote #2
"As everyone knows, that any reform process and any screening process of the country will be accompanied by side effects."
Source
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Quote #3

Full Extracted Text

Complete text extracted from the document (3,527 characters)

The text of the television interview of the Deputy Crown Prince: Prince Mohammed bin Salman:
The Prince Mohammed bin Salman bin Abdul Aziz, the Deputy Crown Prince, the Second Deputy of the Prime Minister, and the Chairman of the Council for Economic Affairs and Development, has held a television interview on Saudi Arabia's first channel for the most important local and regional issues, and he stated the followings:
* The national transformation program was designed to improve the performance of government agencies?
- That’s true, and for this reason there are indicators and targets have entered in 24 government agencies, the second batch will be launched in the near future or the coming weeks, and there are new entities, that were not included in the 24 parties in the national transformation program, will be added to it.
* Now it is been a year since the establishment of 2030 vision, How do your Highness see its impact on the growth, the unemployment and non-oil income?
- I think that it has achieved so many achievements. If we look at 50 thousand feet, we will find that the deficit rate is less than all analysts’ anticipation, both at home and abroad for 2015 and 2016. And also for the budget of 2017 we will find non-oil revenues almost doubled in these years, "the last two years from nearly 111 billion to nearly 200 billion Saudi riyals. We will also look at the fact that budget control has become much more accurate than a budget in the last year, which spends more than 25 % to 45 % to a budget where only less than 10 % is spent. All of which are more than 50,000 feet. In addition to that, the main economic indexes have been affected by eighties, the nineties, and 2009 fall in oil prices such as the unemployment index which increased in those sharp declines, while the inflation index rose very significantly. The investment index also fell very strongly, while in this crisis the oil prices fell very sharply in an unprecedented manner in the history of the Kingdom of Saudi Arabia and in a very rapid pace until it reached 27 dollars in a short period, and continued at this abysmal level for a year and more than a year. But, thanks to God, thanks to the guidance of his majesty the king, and the work of government agencies and officials and government employees who were able to maintain a lot of indexes without being affected negatively. Unemployment was maintained at its level and was not strongly affected negatively. Inflation was also not strongly affected negativly as the historical cases we have seen in the past. The investment index was not affected strongly and the growth index continued to rise on the GDB. It is true that it is below the global average but we have not entered a stage of contraction in the Saudi economy. Now the effects of these programs that will be launched will start to appear in late 2017. We will find their very strong impact starting from 2018 and 2019 on all these key economic indexes.
* Your Highness, Prince, with regard to the issue of unemployment from the beginning of this year and with the recession that the local market suffered, there was a layoff for people from their jobs, what is the plan for that?
- As everyone knows, that any reform process and any screening process of the country will be accompanied by side effects. It is very normal with the oil drop to $ 27 and its continuation for a long time less than $ 40 have a lot of symptoms affecting the state spending. These ten programs are all in
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