The Saudi government, like the rest of the oil exporting countries, has lost 50 percent of its daily revenues ever since the price of the barrel dropped below $60.
This shocker is only momentary. The Saudi government is wealthy enough to compensate for the shortfall and reduce some expenses, allowing the stock market to be minimally affected and the problem to pass.
But no, in reality, the problem hasn’t passed – it hasn’t even begun and it will resurface one day. This is not a prophecy but a realistic reading of the situation.
What's the value of money if it's not spent on building a society capable of standing on its feet tomorrow without oil?Abdulrahman al-Rashed