Saudi Arabia’s economic time bomb
It is not like old times anymore: Saudi Arabia, one of the world’s top producers of oil, is suffering. The kingdom is feeling the pinch of low oil prices, which have sent shivers down to its population. The kingdom is being rattled to the core. By how much?
Saudi Arabian economy: A huge deficit for two years running: the government has been forced to draw on its foreign reserves and issue bonds. Meanwhile, cuts in subsidies: from oil, to salaries, even royalties and thousands of princes are getting pinched. And the 2030 vision: a fanciful vision, completely void of realism.
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