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Old 10-22-2015, 10:58 AM   #1
A.T. Hagan
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Default Oil-rich Saudi Arabia will run out of 'financial assets' within FIVE YEARS, warns International Monetary Fund

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Kingdom faces 20% deficit of up to $150m this year amid drop in oil prices
Saudi Arabia generates around 90 per cent of its income from the sector
IMF says 'it will run out of buffers within five years' under current policies
Urged Riyadh to cut public spending and diversify income away from oil
http://www.dailymail.co.uk/news/arti...tary-Fund.html
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Old 10-22-2015, 11:12 AM   #2
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Urged Riyadh to cut public spending and diversify income away from oil
Saudi Arabia and most of the other oil-rich Gulf States are but giant sand pits floating on oil and gas. Once the gas and oil are gone or become worthless, there is nothing left. SA could use the Hajj business to generate some wealth perhaps but that would only generate a fraction of what they have been used to until now.
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