The world has been no stranger to economic crisis in recent years, with major nations grappling with high inflation, rising interest rates and faltering confidence.
In Saudi Arabia, careful navigation through these turbulent times has helped it climb to the top of major international rankings, helped by a historic commitment to reform and modernisation.
These clear and measurable achievements resonate across the country as citizens celebrate its 93rd National Day, held on 23 September, to commemorate the renaming of the Kingdom.
This year, the country can justifiably claim to be a beacon of progress. As the shockwaves caused by the Covid-19 pandemic rippled through the global economy, the Kingdom’s Vision 2030 policies helped show how careful but ambitious change – centred on diversifying sources of income – could provide shelter from the storm and stable growth.
At a challenging time for the global economic system, Saudi Arabia's Vision 2023 has proved resilient. Using measurable indicators, it continued to improve governance, transparency, policy development, and procedures. It closed loopholes that could be exploited for corruption and restructured some government entities.
It helped Saudi Arabia top one of the most-watched rankings among world governments and financiers: the International Monetary Fund’s economic growth league table.
And the Kingdom went on to play a key role in the G20 summit.