There are longer-term worries as well. A recent study by the consultants McKinsey warned that with more than half of Saudi Arabia’s population under 25, a surge of young people was likely to enter the work force in the coming years. This will require the creation of almost three times as many jobs for Saudis as the kingdom created during the 2003-13 oil boom.

Prince Mohammed, a son of the monarch, King Salman, is leading the effort to find solutions as the head of council that oversees economic policy. Although only about 30 years old and relatively unknown before his father became king last year, he is also the country’s defense minister, at a time of great regional instability and with Saudi forces at war in neighboring Yemen.

The prince’s intention, analysts say, appears to be to create a vehicle that would make direct investments in companies outside of Saudi Arabia as well as inside. The idea would be to use these holdings to generate income at a time when oil prices are low and to develop business relationships that would lead to investments in Saudi Arabia.

In initiating the changes, Saudi Arabia trails behind some other countries. The Public Investment Fund, for instance, has about $5 billion in assets, according to the Sovereign Wealth Fund Institute, a research organization.

The full plan to restructure the Saudi economy has yet to be released, but the announcements touched on central aspects of it.

Shares of the parent company of Saudi Aramco, widely believed to be the world’s most valuable company, as well as shares of its subsidiaries, could be sold to the public on the Saudi stock exchange as early as next year, Prince Mohammed said. But the shares would be for “less than 5 percent” of the company, he said.

Assets raised from the stock sales would be routed into the Public Investment Fund, which could grow to hold more than $2 trillion, the prince said. The fund currently has $5 billion in assets and includes shares in a large Saudi chemical manufacturer and the kingdom’s largest lender.