Lagarde welcomes ‘major policy shift’ in Saudi Arabia
IMF managing director says efforts to reduce reliance on oil are “very welcome”
International Monetary Fund managing director Christine Lagarde praised Saudi Arabia's progress in handling reforms in recent years, but noted challenges remain for the region, in remarks on October 26.
Speaking at the conclusion of a visit to Riyadh, Lagarde said Saudi Arabia had begun a "major policy shift", implementing "ambitious" reforms to shift the economy away from its reliance on oil, strengthen non-oil growth and boost employment opportunities.
"I look forward to the authorities laying
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