Saudi Arabia could run out of financial assets within five years, IMF warns

Analysts with the International Monetary Fund project that Saudi Arabia will be broke in the next five years if the government maintains current policies

By Beatrice Gitau,

The Middle East’s biggest economy, Saudi Arabia, could burn through its financial assets within five years, amid a drop in oil prices, the International Monetary Fund (IMF) has warned.

In its latest Middle East economic outlook report, the IMF said it expects Saudi Arabia to run a budget deficit of 21.6 percent in 2015 and 19.4 percent in 2016.

If oil prices remain as low as they are, and the government maintains current economic policies, Saudi Arabia “would run out of buffers in less than five years,” the Washington-based lender said.

Read more » The Christian Science Monitor
See more » http://www.csmonitor.com/World/Global-News/2015/1023/Saudi-Arabia-could-run-out-of-financial-assets-within-five-years-IMF-warns?cmpid=FB

Advertisements

By using this service you agree not to post material that is obscene, harassing, defamatory, or otherwise objectionable. Although IAOJ does not monitor comments posted to this site (and has no obligation to), it reserves the right to delete, edit, or move any material that it deems to be in violation of this rule.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s