Saudi Arabia agrees plans to move away from oil profits
The Saudi cabinet has approved sweeping economic reforms aimed at moving the country away from its dependence on oil profits.
Just over 70% of revenues came from oil last year but it has been hit by falling prices.
One part of the plan will see shares sold in state-owned oil giant Aramco to create a sovereign wealth fund.
Announcing the reforms, Deputy Crown Prince Mohammed bin Salman described his country as being addicted to oil.
The Vision 2030 plan, he told the Saudi-owned Al-Arabiya news channel, would ensure "we can live without oil by 2020".
Saudi Arabia agrees plans to move away from oil profits - BBC News
