Related: Mohammed bin Salman: the prince trying to wean Saudi Arabia off oilSaudi Arabia finances now depend on oil revenue and its economic performance closely tracks government spending. Details of the plan, a programme of wide-ranging economic reforms, will be disclosed in daily news conferences with government ministers starting Monday evening, the senior source said. Saudi Arabia’s National Transformation Plan, a pivotal element of the Vision 2030 reforms announced in April by deputy crown prince Mohammed bin Salman, will be put before the cabinet for approval on Monday, a senior Saudi source told Reuters. “The Council of Economic and Development Affairs has approved the final draft of the National Transformation Plan, which is one of the plans adopted and part of the 2030 vision, which was launched and adopted by the Saudi deputy crown prince, president of CEDA,” the source said. The emphasis placed on the plan by prince Mohammed is evident in the high-profile nature of its launch, with senior ministers expected to deliver rare briefings on how their departments will implement the programme.

Source: The Guardian June 05, 2016 21:00 UTC