Tag: National Transformation Program(NTP)

Saudi cabinet approves economic diversification plan

JEDDAH, Saudi Arabia (AFP) — The Saudi cabinet has approved a major plan to diversify the national economy away from oil with an aim to generate 450,000 jobs in non-government sectors by 2020, officials said Tuesday. The National Transformation Program (NTP) 2020 also aims to cut public expenditures by 40 percent over the next five years and boost the contribution of the private sector, officials said. NTP is one of several programs designed to achieve […]