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This R&D provides resources on Saudi Arabia’s economy. The International Monetary Fund (IMF) recently issued a report that suggests that the kingdom may run out of financial assets in less than five years. This is largely due to the slumping global oil price, which means that Saudi Arabia is running a double digit budget deficit this year. The same is projected for next year. The IMF is recommending that Saudi Arabia enact significant spending cuts in order to keep the deficits under control.
An economy solely dependent on oil means the falling price is wrecking Saudi Arabia’s budget https://t.co/6O8YHeXl88 pic.twitter.com/siETKFD0DQ
— The Economist (@EconMEastAfrica) October 22, 2015
Saudi Arabia’s economy isn’t teetering on collapse; in fact, it’s healthier than it has been in decades. https://t.co/tGc190CRnb
— Foreign Policy (@ForeignPolicy) October 20, 2015
Financial literacy in #Saudi Arabia needs an upgrade: https://t.co/zR7uNEsEEj pic.twitter.com/dJXiMnnb4X
— Al Arabiya English (@AlArabiya_Eng) October 21, 2015
Cheap oil forces Saudi Arabia to consider cutting gas subsidies https://t.co/kEGrSpAX1q via @CNNMoney
— Jozef Tvardzik (@JozefTvardzik) October 28, 2015
Saudi Arabia warned financial assets may be drained within five years https://t.co/lmTcG20YV1
— The National (@TheNationalUAE) October 22, 2015
#SaudiArabia’s cabinet has approved creation of a commission to combat rising #unemployment among young people. http://t.co/rEDeecewbx
— Marmore MENA (@marmoremena) October 18, 2015
#Saudi: 38 New Articles of #LaborLaw Will Take Effect From October 18- Milestone in Saudi #HumanRights– http://t.co/LrrwygxBNN
— Business&HumanRights (@BizHumanRights) October 12, 2015
Oil prices are dangerously below break-even points for Saudi Arabia, Iran & others in the Middle East: https://t.co/LfZqbNTHIF via CNNMoney
— Ken Kamada (@kennykamada) October 28, 2015
Saudi Arabia’s oil policy ‘doesn’t help anyone’ says one central banker in Africa. @JDefteriosCNN http://t.co/0O9SY7s1cY
— CNNMoney Investing (@CNNMoneyInvest) October 12, 2015
#SaudiArabia well placed to become major global player in commodities http://t.co/LarXqOROsr pic.twitter.com/WqV8DdV8pj
— Al Arabiya English (@AlArabiya_Eng) October 19, 2015