ABU DHABI, United Arab Emirates – Saudi Arabia's Prince Sultan bin Salman says the kingdom has focused its efforts on one main target: job creation.
In an interview Tuesday with The Associated Press at a summit in Abu Dhabi, Prince Sultan said that for years the government was "throwing funding" into sectors that did not boost the Saudi economy. Now, he says, "the biggest target today in Saudi Arabia is the economy and jobs."
Saudi Arabia faces steep economic challenges to create new jobs for its burgeoning young population amid a plunge in oil prices. The lower prices of its main export forced the kingdom to post a nearly $100 billion budget deficit last year.
The prince is head of the Saudi Commission for Tourism and National Heritage and the oldest living son of King Salman.