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Key Trends
The overarching story of the Kingdom
in recent years has been one of strong
growth, but that increase in wealth has
been characterised by its sustainable
quality. The Government’s policy has
been to avoid the pitfalls of vertiginous
economic growth and subsequent
economic over-heating. Instead, though
the advance in Gross National Product
(GNP) has demonstrated a sustained
vigour, it has been carefully controlled.
The possession of the world’s largest
reserves and oil and gas, has not by
itself made the Kingdom of Saudi
Arabia what it is in both economic and
geopolitical terms. It has required vision
and determination to transform a rural
and agrarian country into a regional
powerhouse. Under the Custodian of the
Two Holy Mosques, King Abdullah bin
Abdulaziz, the last decade has seen the
astonishing acceleration of an already-
remarkable state-sponsored campaign
of investment in infrastructure of every
kind as well as radical programmes
to boost the existing well-endowed
education and health sectors.
The Kingdom continues to enhance
the value of its hydrocarbon reserves
by moving further into downstream
production. As well as remaining the
world’s largest oil exporter Saudi Arabia
has also become a leading world player
in petrochemicals. Major investments
have been made, often in joint ventures
in downstream projects, which have been
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