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Performance Of Fiscal Measures In Rectifying Fiscal Imbalances In Saudi Arabia

Author

Listed:
  • NASEEM, Sana

    (Department of Accounting and Finance, College of Business Administration, Al Yamamah University, Riyadh, Kingdom of Saudi Arabia.)

Abstract

This paper aims to assess the fiscal measures performance in Saudi Arabia initiated in 2016 and onwards in improving fiscal imbalances during the pre-reform period (2012-2015) and post-reform period (2016-2019). In this research, t-Test paired two samples for means has been used to determine the pre- and post-fiscal reform performance. The study finds that there is a significant difference in real gross domestic product, Debt-gross domestic product ratio and Central Government net financial assets over the two periods while fiscal deficit, current account deficit, oil prices and non-oil gross domestic product growth shows no significant difference over the two periods. Therefore, Saudi Arabian policymakers should take extensive steps to finance its budget deficit and should implement suitable policies that accelerate non-oil gross domestic product growth and meet the needs of citizens. The outcome of this research can be used in future research to perceive the impact of Vision 2030 on the Saudi economy.

Suggested Citation

  • NASEEM, Sana, 2020. "Performance Of Fiscal Measures In Rectifying Fiscal Imbalances In Saudi Arabia," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 24(4), pages 60-67, December.
    • Handle: RePEc:vls:finstu:v:24:y:2020:i:4:p:60-67
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    References listed on IDEAS

    as
    1. International Monetary Fund, 2015. "Saudi Arabia: 2015 Article IV Consultation - Press Release; Staff Report; and Informational Annexl," IMF Staff Country Reports 2015/251, International Monetary Fund.
    2. International Monetary Fund, 2015. "Saudi Arabia: Selected Issues," IMF Staff Country Reports 2015/286, International Monetary Fund.
    3. Goblan Algahtani, 2016. "The Effect of Oil Price Shocks on Economic Activity in Saudi Arabia: Econometric Approach," International Journal of Business and Management, Canadian Center of Science and Education, vol. 11(8), pages 124-124, July.
    4. International Monetary Fund, 2017. "Saudi Arabia: Selected Issues," IMF Staff Country Reports 2017/317, International Monetary Fund.
    5. International Monetary Fund, 2016. "Saudi Arabia: Selected Issues," IMF Staff Country Reports 2016/327, International Monetary Fund.
    6. International Monetary Fund, 2018. "Saudi Arabia: Selected Issues," IMF Staff Country Reports 2018/264, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Fiscal Reforms; Fiscal Deficit; Oil Prices; RealGDP Growth; Saudi Arabia;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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