The Political Economy of Saudi Arabia

The Regional Co-operation for Development (RCD) was set up by the regional members of the Central Treaty Organization (CENTO), Iran, Turkey and Pakistan, in July 1964 to strengthen their socio-economic development. However, a number of financial, political and administrative difficulties made progress under RCD slow. Despite assurances to the contrary, the probable impetus behind the formation of RCD was the unease with the politico-military aspects of CENTO. However, RCD's political significance grew steadily, and that of CENTO declined correspondingly. Nevertheless, recognizing that RCD could not provide an effective military substitute, Iran and Turkey still attached value to CENTO. After twelve unsatisfactory years, the three regional Heads of State held a summit in Izmir on 22 April 1976, making amendments to the 1964 declaration. The Treaty of Izmir was signed in 1977 as the legal framework for RCD. Yet, RCD was unsuccessful. In January 1985, Turkey, Iran and Pakistan established a new organisation called the Economic Co-operation Organization (ECO).     

Demands for Reforms in Saudi Arabia

The article deals with the British government's recognition of limitations of its power of defence against the Ottoman Empire. The material used comes mainly from the papers of the Committee of Imperial Defence.     

Saudi Arabia plans for its economic future: Vision 2030, the National Transformation Plan and Saudi fiscal reform

ABSTRACT

In response to a rapid decline in world oil prices, Saudi Arabia’s Crown Prince Mohammed Bin Salman introduced a new economic blueprint called Saudi Vision 2030 and the accompanying National Transformation Plan that would enable the Kingdom to diversify its heavily oil-dependent revenue base, reduce its growing budget deficits, balance its budgets, and promote long-term economic growth. This article analyses the goals of the Vision and the policies offered to achieve them, which entail significant reforms to the Kingdom’s fiscal and budgetary procedures and policies. This study considers the political and institutional challenges that confront the Saudi Vision and its likelihood of success.