Some Saudis fear being left behind despite oil price boom

  • Date: 25-Sep-2022
  • Source: Financial Times
  • Sector:Oil & Gas
  • Country:Saudi Arabia
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Some Saudis fear being left behind despite oil price boom

Every evening in Hail, a Saudi city at the foot of a jagged mountain range, Mona heads out to her roadside tea stall, switches on the lights, and waits for customers to show up. She keeps a printed resume on hand, hoping one of them might offer her a better job.

“It’s worse now,” the former clerk said, despite widespread reforms and an oil price boom that will make Saudi Arabia the world’s fastest-growing economy this year.

Jobs in Hail, at least ones that Mona would consider, are few and far between. Government efforts to increase Saudi employment, and female employment in particular, were commendable, but have fallen short, she said. “They did support women. But all those jobs were quickly filled,” said Mona, who did not want her real name to be published.

Under day-to-day ruler Crown Prince Mohammed bin Salman, the kingdom has being going through a period of rapid reforms. Riyadh wants to overhaul the country’s economy by 2030 to reduce its reliance on oil, expand the private sector and whittle down subsidies that people have traditionally relied on. The stakes are high for the prince, who counts young Saudis — who want jobs and homes — as his support