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It is likely to be continued in 2017, enabling the authorities to reduce their incompressible current expenditure.

Although the price of a barrel of oil in 2016 was lower than in 2015, the fall in export receipts was offset by the reduction in imports resulting from the economic slowdown.Government receipts continued to contract in 2016, due to the weakness of the price of hydrocarbons.In addition, non-oil receipts were constrained by the slowdown in non-oil activity.The Sharp Sustainability Report 2017 reports on Sharp's CSR efforts, which contribute to creating a sustainable society.Information on Sharp's activities in fiscal 2016 is disclosed in three sections–titled Management, Environmental Initiatives, and Social Initiatives–which are accompanied by a variety of relevant data.The freeze on recruitment and salaries in the civil service, which employs more than 50% of the working-age Saudi population, and the slowdown in the non-oil economy weigh on household purchasing power.

Conversely, the increase in oil production was the principal contributor to growth.

The policy of austerity initiated in 2016 is likely to be replaced with more support on the part of the public sector for the non-oil sector.

Compliance with the production quotas should however constrain the oil GDP of the kingdom.

The authorities have turned gradually towards the international debt market to meet their financing needs and to relieve the domestic debt market which is suffering from liquidity constraints.

The country completed an initial bond issue of $17 billion in October 2016 and it is likely to continue to call on external financing.

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