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Rationalization of subsidies for water and electricity
document IMAGES-003-HOUSE_OVERSIGHT_016170.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ending on the price of feed and ingredients. As of 2015, subsidies for poultry accounted for 40% and dairy for 60%. 60 GEMs Paper #26 | 30 June 2016 3S Merrill Lynch HOUSE_OVERSIGHT_016170

Saudi Arabia approves 100% foreign ownership rules
document IMAGES-003-HOUSE_OVERSIGHT_016171.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…d introduction of modern technology will help arrest wastages, particularly in the food supply chain. OS Merrill Lynch GEMs Paper #26 | 30 June 2016 61 HOUSE_OVERSIGHT_016171

Historic energy sector liberalization
document IMAGES-003-HOUSE_OVERSIGHT_016120.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…main an important crude oil supplier to the US and was achieved through the buying of stakes in refineries in 1988. 10 GEMs Paper #26 | 30 June 2016 3S Merrill Lynch HOUSE_OVERSIGHT_016120

National Transformation Plan: many promises, few details
document IMAGES-003-HOUSE_OVERSIGHT_016123.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… 10 10 3 Time needed to issue new business permits Day 19 1 8 0.5 Source: National Transformation Plan OS erartll Lynch GEMs Paper #26 | 30 June 2016 13 HOUSE_OVERSIGHT_016123

Table 12: Selected drivers of Saudi consumer
document IMAGES-003-HOUSE_OVERSIGHT_016138.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…truction was one of the fastest growing sector last year both in terms of domestic activity and of domestic credit. 28 GEMs Paper #26 | 30 June 2016 3S Merrill Lynch HOUSE_OVERSIGHT_016138

Telecom: supporting a move to higher
document IMAGES-003-HOUSE_OVERSIGHT_016158.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…nsify their rollout of coverage; and, (3) tower density will likely have to increase across the key demand centres. 48 GEMs Paper #26 | 30 June 2016 3S Merrill Lynch HOUSE_OVERSIGHT_016158

Health: Not Tremendously Prescriptive
document IMAGES-003-HOUSE_OVERSIGHT_016161.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… targets set for the public sector do not appear unduly onerous in theory, but execution remains key. OS Merrill Lynch GEMs Paper #26|30June 2016 51 HOUSE_OVERSIGHT_016161

Targeting a stable oil price
document IMAGES-003-HOUSE_OVERSIGHT_016122.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ild an export base of refined products (likely middle distillates to the EU) and lower imports of refined products. 12 GEMs Paper #26 | 30 June 2016 3S Merrill Lynch HOUSE_OVERSIGHT_016122

Table 17: Examples of management contracts
document IMAGES-003-HOUSE_OVERSIGHT_016165.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…h, ensuring high demand. Both areas also host the highest number of private hospitals in the country. OS Merrill Lynch GEMs Paper #26 | 30 June 2016 55 HOUSE_OVERSIGHT_016165

Supply-Side Investment Research
document TEXT-001-HOUSE_OVERSIGHT_025296.txt May 19, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

LAFFER ASSOCIATES Supply-Side Investment Research May 19, 2016 10-yr T-Note: 1.86% DJIA: 17,526.62 NASDAQ: 4,739.12 S&P 500: 2,047.63 S&P 500 Undervalued: 151.8% GAME ON [Updated 7/6/2016] By Arthur B. Laffer, Ph.D. Summary To save you the agony of plodding through this fascinat...