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Despite ambitious plans to reduce reliance on oil, Saudi Arabia still derives 60% of its revenues and over 65% of exports from the sector. A decade ago, Crown Prince Mohammed bin Salman envisioned an oil-independent economy by 2020, but the reality remains starkly different.
- Oil still accounts for 60% of Saudi Arabia's revenues and over 65% of exports.
- Crown Prince Mohammed bin Salman's 2014 prediction of oil independence by 2020 has not materialized.
- Economic experts like Monica Malik are analyzing Saudi Arabia's slow progress in diversification efforts.
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