Abdullah Al Alami
Dec 28, 2020
Despite hurricane ‘Corona’, there were some cheerful news in Saudi Arabia this year. Riyadh has reduced the huge damage caused by the pandemic that has afflicted the whole world.
Saudi Arabia successfully accomplished the task of presiding
over the G20. The Saudi budget was ambitious despite the current financial circumstances,
and the state continues to direct the budget to achieve financial balance. In
addition, the “Citizen’s Account” is still active covering the increase in the
prices of goods and services. Saudi Arabia’s Public Investment Fund (PIF) is on
track to becoming the world’s first activist and futurist sovereign wealth fund.
State oil company Saudi Aramco has discovered four new oil
and gas fields in different locations around the country. Saudi Arabia’s oil exports
to China increased by 43 percent month-on-month in November 2020 to reach 8.48
million tons, or 2.06 million barrels per day (BPD).
Despite the increase in the value-added tax, which may have
affected the Saudi economy, Saudi Arabia continues to hire Saudis in accounting
professions. Riyadh is also launching similar programs to replace tens of
thousands of expatriates in medical, pharmacy, and nursing jobs. We also hope to
raise the percentage of Saudi lawyers, as this is an internal issue directly related
to implementing and maintaining law and order.
Socially, the Kingdom ranked 40th, and second in the Arab
world, in the Human Development Index, presented by the United Nations
Development Program for Health and Education among 189 countries around the
world.
Regionally, Saudi Arabia has succeeded in strengthening its
relations with its neighbor, Bahrain. The first meeting of the Saudi-Bahraini
Coordination Council is a success, awaiting the implementation of the agreement
between the two countries.
Globally, the King Abdullah Financial District (KAFD) mosque in
Riyadh won the International Architecture Prize for the year 2020, awarded by
the Atheneum Museum in Chicago, USA, for the best international designs.
What about the movies? The feature film "Lady of the
Sea" was officially nominated to represent Saudi Arabia in the next
Oscar competition for the best international film category. The Saudi Film
Commission is preparing to launch the Digital Filmmaker Program, which will
provide learning and training opportunities in film production specialisms for
professionals and amateurs.
What about the future? Local and international reports continue
to confirm that the weakness in the labor market may continue for a short
period of time. However, this will not deter Riyadh from achieving its goals, programs,
and vision. The country continues its investment in its people.
In short, Saudi Arabia achieved some successes despite the
decline in revenues, an increase in expenditures, and current difficult economic
circumstances. Christmas in Saudi Arabia this year feels different in a very
remarkable way. Christmas trees, Santa Claus outfits and decorations are for
sale in Riyadh.
Christmas this year isn't too bad, at least for the
optimists.