Despite the oil crisis and falling prices in the days leading up to the global Corona virus epidemic, the Saudi government maintained the kingdom's revenue with its successful strategy.
In this regard, sources say that Saudi Arabia has maintained a balance of income despite the crises in the oil markets, which raises the question of how this work was possible.
According to Saudi media, in the first half of 2014, the price of a barrel of oil was between one hundred and one hundred and ten dollars, while in 2020, the price of oil fell to a record low.
In April, US crude oil prices plunged from zero to minus, during which time oil markets fluctuated sharply. The fall in prices also had an impact on oil revenues.
The national incomes of Saudi Arabia, Russia and Venezuela have been hit hard by the sharp fall in oil prices, but Saudi Arabia, while its biggest source of income, has been able to protect its economy from the effects of falling oil prices thanks to Vision 2030. Succeeded
Vision 2030 created new sources of income in the country and created new sources of income for the national budget.
Crown Prince Muhammad bin Salman announced the Saudi vision on April 25, 2016.
It is with this vision that Saudi Arabia has tackled the crises caused by the fall in oil prices over the past four years.
The Corona epidemic has created an economic crisis around the world, with many countries' economies stagnating and oil prices falling to record lows.
In a survey, Japanese experts answered the question of how Saudi Arabia balanced its national income.
The survey, titled "Saudi Financial System, Dynamic of Oil Dependence," said Japanese observers said that after Vision 2030, Saudi Arabia's revenue from non-oil sources increased by 78.7%.
Earlier, the revenue from these sources was 186 billion riyals, after the vision reached 332.4 billion riyals, an average annual increase of 22% during the four years.
