The Saudi economic situation during the reign of king Saud bin Abdulaziz (1953-1964)

Abstract

King Saud bin Abdulaziz (1953-1964) sought to follow a free economic policy aimed at completing the path of his father, King Abdulaziz bin Abdul Rahman Al Saud, in advancing the Kingdom’s economic situation during his reign, by introducing advanced methods in the Saudi agricultural, industrial and commercial sectors from By employing financial oil revenues to advance these sectors, by following a balanced oil policy that reduced dependence on Aramco in the fields of production, transportation, and distribution, as well as completing the sovereign role of the state over Saudi oil.