16:10 GMT +327 June 2019
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    Khaled al Otaiby, an official of the Saudi oil company Aramco watches progress at a rig at the al-Howta oil field.

    Saudi Gov`t Approves Plan Outlining Economic Reforms by 2030

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    Saudi Arabia's Cabinet is going to set new economic reform programme which defines Saudi development until 2030, local media reported.

    MOSCOW (Sputnik) — Saudi Arabia's Cabinet approved on Monday a roadmap, shaping a set of economic reforms for more than a decade, dubbed Saudi Vision 2030, local media reported.

    "We have considered [the plan] ‘Vision of the Kingdom of Saudi Arabia’ presented by the Council of Economic and Development Affairs, and the Council of Ministers has approved it," King Salman bin Abdulaziz Al Saud was quoted as saying by the Sky News Arabiya news channel.

    The monarch also urged Saudis to work jointly to guarantee the plan's successful implementation.

    The aim of this plan is the liberalization of the economy and reduction of dependence on oil, the broadcaster said.

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