Saudi Arabia Regulatory Quality

Saudi Arabia's regulatory quality has displayed a gradual improvement over the past quarter century, according to the World Bank's Worldwide Governance Indicators. The country's score has risen from a low of -0.31 in 1996 to its current standing of 0.84, a 2.15-point increase that positions it at number 45 globally. This upward trajectory suggests a positive shift in the business environment, with a notable improvement in the country's regulatory framework. A comparison with peer countries reveals that Saudi Arabia lags behind leaders such as San Marino, which boasts a score of 0.99, but surpasses many developing nations. The country's closest regional counterpart, Georgia, boasts a higher score of 0.96, underscoring the need for further reform. With the current score of 0.84, Saudi Arabia continues to witness gradual improvements in regulatory quality, and any significant strides in governance and institutional reform would likely propel the country further up the global rankings.