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The recent historic decree allowing women to drive in Saudi Arabia could add up to $90 bln to the kingdom’s economic output by 2030.

The recent historic decree allowing women to drive in Saudi Arabia could add up to $90 bln to the kingdom’s economic output by 2030.

A Bloomberg Economics report has suggested that the recent historic decree allowing women to drive in Saudi Arabia could add up to $90 bln to the kingdom’s economic output by 2030.

The report added that the decree which came into effect on June 24 could help Saudi Arabia gain as much income as selling shares in Saudi Aramco itself.

“Selling as much as 5 percent stake in Saudi Arabian Oil Co. -- at the most optimistic valuation -- could generate about $100 billion,” the report read.

“Lifting the ban on driving is likely to increase the number of women seeking jobs, boosting the size of the workforce and lifting overall incomes and output ,” according to Ziad Daoud, Dubai-based chief Middle East economist for Bloomberg Economics, told Bloomberg.