사우디아라비아의 경제동향과 2014 예산분석

A Study on Saudi Arabia’s Economic Trends and Its 2014 Budget Analysis

The purpose of this paper is to study Saudi Arabia's current economic trends and its 2014 budget analysis. This paper is not concerned with the economic metrical analysis. It limits the discussion to the economic trends. In Korea, there has been no study that tried to examine or analyze Saudi Arabia's budget. This paper came to the following four conclusions: (1) Saudi Arabia shows steady economic growth between 3.8% and 8.6% from 2010 to 2013, the majority of which came from oil revenues. (2) Saudi Arabia is trying to diversify its economy to prepare for post oil era and to break from the oil‐centered industries. Especially it is concentrating on the higher education. (3) The most important ambition of 2014 budget is to keep a balanced budget. This objective is the result of Saudi Arabia’s inability to increase oil revenues because of worldwide economic slump. In the future, Saudi Arabia’s economic policy and its operations will be directly affected by oil prices as usual. (4) The fields of education, health, infrastructure, defense industry, and joint manufacturing business will be favorable for Korean companies.