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Saudi Arabia Approves Economic Reform Program
Keywords:
How the Saudis are coping with lower oil prices and revenues- cutting gasoline subsidies and other spending to reduce budget deficits in 2016
12/28/2015
Gasoline prices for some grades of gasoline sold in Saudi gas stations will increase by 50% as the Saudi Finance Ministry copes with dropping oil revenues. The 2016 budget shows adeficit of $87 billion compared to $98 billion in 2015. At this rate Saudi Arabia would exhaust its foreign exchange reserves of $640 billion by 2020. Saudi Arabia has a rapidly growing population which will increase budget pressures and local oil demand. Its defense spending to counter Iran and Russia in the Syria-Iraq conflict and in Yemen also affect spending. Lower oil prices are partly a result of the geopolitical conflict in the region and rivalry betweeen Iran backed by Russia and Sunnis led by the Saudi and Emirates, as well as technology in shale oil production. This comes at a good time for China as it slows, India as it increases its growth rate, and the U.S. and Eurozone as their economies recover from a deep recession, Japan as it improves its economy from low or no growth. For Russia it is seen as away to shift away from imports to domestic industry. For the Saudis an opportuntiy to cut subsidies and improve the productivity of spending.
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Saudi Arabia Keeps Pumping Oil, Despite Financial and Political Risks
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Young Saudis See Cushy Jobs Vanish Along With Nation’s Oil Wealth
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Weak Oil Prices Curbing Production
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Saudi Arabia in 2015-2016 facing a long term structural deficit - (2) oil policies in 2015 and lack of new revenue streams to support high social spending
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Saudi King Faces Economic Challenges as Reign Begins
Wall Street Journal 01/26/2015
As Saudis Keep Pumping, Thirst for Domestic Oil Swells
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Saudi Arabia, Squeezed by Low Oil Prices, Cuts Spending to Shrink Deficit
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Saudis Moving to Reduce Dependence on Oil Money
New York Times 04/01/2016
Saudi Arabia Approves Economic Reform Program
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Saudi Oil Output Sets Record Despite Global Glut
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The planned creation of a Saudi sovereign wealth fund of about $2 trillion in 2017 with the sale of stock in Saudi Aramco
04/01/2016
The planned Saudi sovereign wealth fund would be a way to generate income from investments overseas. This would be used to support projects at home to employ the surging job seekers as about three times the jobs created in the 2003-2013 boom will be needed in future years, according to McKinsey consultants, because of the demographic changes.
Grouped Articles
Saudis Moving to Reduce Dependence on Oil Money
New York Times 04/01/2016
Saudi Arabia Approves Economic Reform Program
Wall Street Journal 04/26/2016
Saudi Arabia’s post-oil future
Economist 04/29/2016
The Saudi Shake-Up Has One Goal: Drag the Country Into Modern Era
WSJ 06/22/2017
Saudi Arabia Weighs Giving Up on International IPO for Aramco
WSJ 10/13/2017
Opinion: Saudi Arabia – progress, or megalomania? | Middle East | DW | 26.10.2017
DW.COM 10/26/2017
Prince Mohammed bin Salman of Saudi Arabia
06/06/2015
Grouped Articles
Surprising Saudi Rises as a Prince Among Princes
New York Times 06/06/2015
Obama Pours Gas on the Mideast Fire
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Saudi Arabia Approves Economic Reform Program
Wall Street Journal 04/26/2016
Saudi Arabia’s post-oil future
Economist 04/29/2016
Oil: What the Saudi Shake-Up Means
Wall Street Journal 05/13/2016
The Saudi Shake-Up Has One Goal: Drag the Country Into Modern Era
WSJ 06/22/2017
The economy of Saudi Arabia - 2010-2016
02/15/2011
Grouped Articles
Saudi Arabia, Squeezed by Low Oil Prices, Cuts Spending to Shrink Deficit
New York Times 12/28/2015
Saudis Moving to Reduce Dependence on Oil Money
New York Times 04/01/2016
Saudi Arabia Approves Economic Reform Program
Wall Street Journal 04/26/2016
Saudi Arabia’s post-oil future
Economist 04/29/2016
From Tunis to Cairo to Riyadh?
Wall Street Journal 02/15/2011
Calm in Saudi Arabia Speaks Volumes
BusinessWeek 02/23/2011
Plans for IPO by Saudi Aramco
01/12/2016
Grouped Articles
Saudi Arabia Could List Production Assets in Aramco IPO
Wall Street Journal 01/12/2016
Transcript: Q&A With Saudi Aramco Chairman Khalid al-Falih
Wall Street Journal 01/12/2016
Saudis Moving to Reduce Dependence on Oil Money
New York Times 04/01/2016
Saudi Arabia Approves Economic Reform Program
Wall Street Journal 04/26/2016
The Saudi Shake-Up Has One Goal: Drag the Country Into Modern Era
WSJ 06/22/2017
Saudi Arabia Weighs Giving Up on International IPO for Aramco
WSJ 10/13/2017
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