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Saudi Arabia Economy

Saudi Arabia Economy

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Economy Arabia Saudi

Saudi Arabia's riches conceal a growing problem of poverty:

In a country with vast oil wealth and lavish royalty, an estimated quarter of Saudis live below the poverty line Ref. Source 4

Saudi Arabia Economy History & Civil Business Politics

Saudi Arabia braces for $39bn deficit, to cut wages due to low oil prices:

The Finance Ministry said the government will try to save some money by cutting salaries, wages, and allowances that represent around "50 percent of total budgeted expenditures." But the move could anger Saudi youth, who are already struggling to cover the costs of living in the country. Ref. Source 5

Economy Arabia Saudi

Does Riyadh's $70bn foreign assets withdrawal spell trouble?:

Pressure from falling oil prices and the Saudi-led coalition's war in Yemen have pushed Saudi Arabia's central bank to withdraw some $70bn in assets, a string of recent reports have said. Ref. Source 2c

Economy Arabia Saudi

Oil-rich kingdom could run out of cash

THIS desert empire relies on its immense oil wealth to keep it among the richest in the world. But that could all be about to evaporate. Ref. Source 9l

Saudi Arabia Economy

Saudi Devaluation Odds Highest In 20 Years, Kingdom Now More Likely To Default Than Portugal:

In short: the market is getting worried that Riyadh is about to careen into crisis. In the face of slumping crude, the Saudis are staring down double digit budget deficits and the prospect of having to once again tap debt markets Ref. Source 7c

Saudi Arabia Economy

Will a cabinet reshuffle fix Saudi Arabia's economic malaise? King Salman turns to a steady pair of hands in Ibrahim al-Assaf to draw in foreign investment amid Khashoggi crisis. Source 4c.

Saudi Arabia Economy Politics Business Civil & History

How can a country so rich in oil reserves be suffering from ANY kind of economic woes? They are part of OPEC aren't they?