Yahoo Entertainment on Nostr: Saudi Arabia Crown Prince’s Transformation Stress-tests Economy and Stretches ...
Saudi Arabia Crown Prince’s Transformation Stress-tests Economy and Stretches Petrowealth
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Saudi Arabia is facing economic challenges as it undergoes a transformation away from oil dependence. The country's budget has been in deficit for six consecutive quarters, leading to increased international debt issuance. The drop in oil earnings has put pressure on the kingdom's overall economic stability as it continues to invest in large-scale projects. The country's external financial position is also under pressure as imports increase, leading to a projected current-account deficit. Foreign direct investment has been slow to materialize, hindering the diversification efforts. Despite the setbacks, Crown Prince Mohammed bin Salman remains committed to his goals of economic diversification.
#SaudiArabia #Economy #Oil #Debt #Investment
https://www.yahoo.com/news/saudi-arabia-crown-prince-transformation-060000915.html
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Saudi Arabia is facing economic challenges as it undergoes a transformation away from oil dependence. The country's budget has been in deficit for six consecutive quarters, leading to increased international debt issuance. The drop in oil earnings has put pressure on the kingdom's overall economic stability as it continues to invest in large-scale projects. The country's external financial position is also under pressure as imports increase, leading to a projected current-account deficit. Foreign direct investment has been slow to materialize, hindering the diversification efforts. Despite the setbacks, Crown Prince Mohammed bin Salman remains committed to his goals of economic diversification.
#SaudiArabia #Economy #Oil #Debt #Investment
https://www.yahoo.com/news/saudi-arabia-crown-prince-transformation-060000915.html