{"id":58594,"date":"2016-06-06T00:12:21","date_gmt":"2016-06-05T22:12:21","guid":{"rendered":"http:\/\/www.arabtelegraph.com\/?p=58594"},"modified":"2016-06-06T00:12:21","modified_gmt":"2016-06-05T22:12:21","slug":"saudi-reform-plan-approved-by-top-government-economic-council","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=58594","title":{"rendered":"Saudi reform plan approved by top government economic council"},"content":{"rendered":"<p dir=\"ltr\"><strong>Saudi Arabia\u2019s Council for Economic and Development Affairs (CEDA) has approved the national transformation plan overseen by Deputy Crown Prince Mohammed bin Salman and will pass it to the cabinet on Monday for approval, a senior Saudi source said.<\/strong><\/p>\n<p dir=\"ltr\">\u201cThe Council of Economic and Develpoment Affairs (CEDA) 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,\u201d the source said.<\/p>\n<p dir=\"ltr\">\u201cThe National Transformation Plan will be presented to the cabinet on Monday for its endorsement and adoption,\u201d the source added.<\/p>\n<p dir=\"ltr\">\u201cThe final draft of the National Transformation Plan, which is one of the programs adopted as part of the Saudi Vision 2030 has been launched by the Deputy Crown Prince and president of the Council for Economic and Development Affairs,\u201d the senior source said.<\/p>\n<p dir=\"ltr\">Details of the plan, a program of wide-ranging economic reforms, will be revealed in daily news conferences with government ministers starting from Monday evening, the senior source said.<\/p>\n<p dir=\"ltr\">The plan is expected to further flesh out sweeping reforms called \u201cVision 2030\u201d announced by Prince Mohammed in late April to radically overhaul an economy that relies on volatile oil revenue.<\/p>\n<p dir=\"ltr\">The wider reforms are expected to include subsidy cuts, tax rises, sales of state assets, a government efficiency drive and efforts to spur private sector investment. Last month the International Monetary Fund said the plans were \u201cappropriately bold and far reaching\u201d.<\/p>\n<p dir=\"ltr\">Riyadh has been cutting spending and trying to raise fresh revenues as it grapples with its budget deficit, which totaled $98 billion in 2015.<\/p>\n<p dir=\"ltr\">The IMF predicted the deficit would stay very large this year, at about 14 percent of gross domestic product compared to 16 percent last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia\u2019s Council for Economic and Development Affairs (CEDA) has approved the national transformation plan overseen by Deputy Crown Prince Mohammed bin Salman and will pass it to the cabinet on Monday for approval, a senior Saudi source said. \u201cThe Council of Economic and Develpoment Affairs (CEDA) has approved the final draft of the National &hellip;<\/p>\n","protected":false},"author":3,"featured_media":58595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-58594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-te-public"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Saudi reform plan approved by top government economic council - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arabtelegraph.com\/?p=58594\" \/>\n<meta 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