Any doubts that Saudi Vision 2030 was becoming a reality were dispelled
Marios Maratheftis, global chief economist at Standard Chartered, and Bloomberg’s Riad Hamade discuss Saudi Arabia’s anti-corruption crackdown, its impact on markets and the growing tensions with Iran. They speak on “Bloomberg Markets: Middle East.”
Maratheftis said that if there were any doubts that Saudi was changing, whether Vision 2030 was going to be implemented, whether diversification was taking place, then the latest events were proof that Saudi was in the middle of a real transformation.
“There might be some short term volatility, uncertainty, and even decision paralysis from some individuals, but the long term plans are there to be realised,” he said.
“Also, the escalating geopolitics, such the rhetoric with Iran, the Yemen conflict, and the now Lebanese tensions with Saudi, cannot be underestimated and are all events difficult for markets to factor in, and one day we will wake up to see that the picture is completely different.”