Al Arabiya: Jeff Youssef On The Major Benefits to Saudi Arabia From Privatization

Jeff Youssef, Partner for Public Sector at Oliver Wyman, said privatization has several benefits for the Saudi economy, mainly: boosting the Kingdom's GDP growth, adding new jobs to the labor market and reducing government spending. In an interview with Al Arabiya, Youssef said the Saudi Arabian "privatization program" aims to increase the contribution of the private sector to GDP from 40% to 65% by 2030.

The Kingdom also aims to create about 12,000 jobs and achieve non-oil revenues of about $10 billion. He said that the privatization program will boost GDP growth by at least 7% and will return many benefits if implemented properly.

Al Arabiya is a leading pan-Arab television news channel broadcast in Modern Standard Arabic. The channel is based in Dubai, United Arab Emirates.

Watch the full interview in Arabic here.