Finance Minister Ishaq Dar on Thursday evening unveiled the Pakistan Economic Surveywith a focus on success stories over missed targets.
Economic overview[ edit ] Saudi oil reserves are the second largest in the worldand Saudi Arabia is the world's leading oil exporter and second largest producer. Petroleum in Saudi Arabia is not only plentiful but under pressure and close to the earth's surface.
This makes it far cheaper and thus far more profitable to extract petroleum in Saudi Arabia than in many other places. The government has encouraged private sector growth for many years to lessen the kingdom's dependence on oil, and to increase employment opportunities for the swelling Saudi population.
In recent decades the government has begun to permit private sector and foreign investor participation in sectors such as power generation and telecom, and acceded to the WTO. During much of the shigh oil prices  enabled the government to post budget surpluses, boost spending on job training and education, infrastructure development, and government salaries.
With its absolute monarchy system of government, large state sector and supply of welfare benefits, the Saudi economy has been described as a bewildering at least to outsiders combination of a feudal fealty system and a more modern political patronage one.
At every level in every sphere of activity, Saudis maneuver through life manipulating individual privileges, favors, obligations, and connections. By the same token, the government bureaucracy is a maze of overlapping or conflicting power center under the patronage of various royal princes with their own priorities and agendas to pursue and dependents to satisfy.The Pakistan Institute of Development Economics, established by the Government of Pakistan in , is an autonomous research organisation devoted to carrying out theoretical and empirical research on development economics in general and on Pakistan-related economic issues in particular.
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