European experts on the problems of Saudi Arabia: Itself sent oil prices to a financial hole

European experts on the problems of Saudi Arabia: Itself sent oil prices to a financial hole

Specialists of the International Monetary Fund made a forecast about the economic balance of Saudi Arabia. It is noted that, according to the results of the current year, the Saudi budget deficit will be at least 62 billion dollars. This is more than 8% of the country's GDP.


According to IMF estimates, in order to reduce the budget deficit to zero, Riyadh would need an average oil price of $ 76 per barrel this year. Experts believe that this level of oil prices in 2020 is not achievable.

Saudi Arabia's foreign exchange reserves have declined to a minimum since 2011. Keeping the exchange rate at fixed levels eventually led to the fact that foreign exchange capital began to leave the country.

It is noteworthy how the European press reacts to the situation in Saudi Arabia. So, the large Danish publication Berlingske writes:

The budget deficit can reach a value of 10%. But the Saudi authorities themselves are to blame. The fact that state revenues have fallen sharply is not so much to blame for the coronavirus crisis as an unsuccessful attempt to gain market share. This is Saudi Arabia in March and April sent the price of oil to a financial hole. With its 18% proven global oil reserves and 10% of global production - an irresponsible move.

Danish expert Ulrik Harold Be says that now the monarchy has to make unpopular decisions within the country.

So, the VAT bar has already been raised three times, which is a blow to doing business. The tax rate for a long time was 5%, now the Saudi authorities raise it to 15%.

Ulric Harold Be:

This affects both the general population and prestigious long-term projects. In turn, this can lead to even greater shocks.

The British BBC quotes Gulf countries specialist Michael Stevens as saying:

The economy of the (Saudi) kingdom is in terrible condition, and it will take some time to restore normal life.

The British media noted that the loss of international trust after the removal of journalist Jamal Khashoggi adds to the problems of Riyadh.
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  1. Olgovich 13 May 2020 14: 21 New
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    Yeah, the Saudis broke .... YOURSELF!

    Now cut ALL budget expenses ...
    1. Shurik70 13 May 2020 14: 30 New
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      That's whose problems few people care about ... In Russia.
      1. Nikolai Grek 14 May 2020 04: 02 New
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        Quote: Shurik70
        That's whose problems few people care about ... In Russia.

        come on??!!! what due to the fact that the whole world was screaming (and inappropriate commentators echoed it), that Russia was bent and right now the end will come, we’re very worried about them ... not in the sense that we are worried for them, but in the sense of having fun with their "strategy" !! request laughing have not grown yet to compete with Russia ... and even with such a "strategy" !!! lol

        PS ... compare, lope of comments in similar articles with regards to Russia, falling oil prices, "bent Russia in a custody transaction", and lope here !! wink laughing
        1. Roman123567 14 May 2020 10: 21 New
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          not yet mature enough to compete with Russia

          More than half of Russia can only dream about the standard of living of the Saudis .. But someone likes to "compete" on someone else's hump and at someone else’s expense ....
          Nineteen mines were closed in the USA - Urya, Pabeda ..
          SA increased VAT from 5 to 15% - Urya, Pabeda ..
          A cow’s butt under a microscope does not give a complete picture of the observed object .. And this idea consists in the fact that neither the “defeated” Americans nor the “defeated” Saudis bring us permanent residence. Our level is Tajikistan
          1. Nikolai Grek 14 May 2020 17: 53 New
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            Quote: Roman123567
            More than half of Russia can only dream about the standard of living of the Saudis ..

            what especially the female part of the population !!! laughing
            Quote: Roman123567
            to us do not fall for permanent residence.

            you’d have fallen asleep; wink wassat
            Quote: Roman123567
            Our level is Tajikistan

            everything can be ... who knows where you live and who you are !!! request lol
          2. nov_tech.vrn 15 May 2020 13: 42 New
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            Roma is rather your level Hohlostan.
    2. Insurgent 13 May 2020 14: 33 New
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      Quote: Olgovich
      Yeah, the Saudis broke .... YOURSELF!


      They smashed with oil for themselves, in Yemen, and the Hussites break into their mercenaries, not sickly, knowingly yes .

      Nepruha recourse yes





      1. Gray brother 13 May 2020 14: 42 New
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        Quote: Insurgent
        Nepruha

        I would say that this is more greed than bad luck.
        1. Lelek 13 May 2020 18: 06 New
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          Quote: Gray Brother
          I would say that this is more greed than bad luck.

          hi
          Here, perhaps, a whole bouquet in one pot. Greed - yes, arrogance (I’ll spoil anything for that) - yes, setting the main "partner" to strangle Russia - yes, the desire to "communize" oil markets - yes, hussite bites - yes. There is so much “yes” and all with a negative result for the Saudis. Good lesson for the future.
        2. Nikolai Grek 14 May 2020 04: 06 New
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          Quote: Gray Brother
          Quote: Insurgent
          Nepruha

          I would say that this is more greed than bad luck.

          Do not tell me where to get from the comments sorrows, lekusy and other "economists" ??? !!! what laughing wassat
          1. Gray brother 14 May 2020 06: 01 New
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            Quote: Nikolai Grek
            Do not tell me where to get from the comments sorrows, lekusy and other "economists" ??? !!!

            They do not have this in manuals, it is not clear what to write.
            1. Nikolai Grek 14 May 2020 17: 48 New
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              Quote: Gray Brother
              Quote: Nikolai Grek
              Do not tell me where to get from the comments sorrows, lekusy and other "economists" ??? !!!

              They do not have this in manuals, it is not clear what to write.

              but they still get into the comments ... and here - how blew them away !! laughing
          2. Insurgent 14 May 2020 07: 46 New
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            Quote: Nikolai Grek
            Do not tell me where to get from the comments sorrows, lekusy and other "economists" ??? !!!

            Actually, I don’t really know who you are asking about, nor do I understand what they have to do with my comment to which you refer request
            1. Nikolai Grek 14 May 2020 17: 50 New
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              Quote: Insurgent
              Quote: Nikolai Grek
              Do not tell me where to get from the comments sorrows, lekusy and other "economists" ??? !!!

              Actually, I don’t really know who you are asking about, nor do I understand what they have to do with my comment to which you refer request

              so do not meddle ... especially since I did not refer to your comment !!! fool wassat
        3. Nikolai Grek 14 May 2020 04: 10 New
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          Quote: Gray Brother
          Quote: Insurgent
          Nepruha

          I would say that this is more greed than bad luck.

          noooooo .... they just have economists - these are the characters I mentioned at 03:46 !!! wassat lol
    3. Gray brother 13 May 2020 14: 35 New
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      Quote: Olgovich
      Now cut ALL budget expenses ...

      The Hussites still cut the budget for them.
      1. Ilya-spb 13 May 2020 14: 40 New
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        With such cases, I won’t be surprised if the Hussites reach the capital of Saudi Arabia.
        1. Gray brother 13 May 2020 14: 46 New
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          Quote: Ilya-spb
          if the Hussites reach the capital of Saudi Arabia.

          Their house is full of business - intervention, if the disassemblers do not pull the funding, then the Hadists will most likely reach Riyadh, because they will have nowhere else to go.
      2. The comment was deleted.
    4. knn54 13 May 2020 14: 51 New
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      What does it mean to "get along" with the Yankees: They first gave "recommendations", and when it didn’t work out with the Russian Federation, right away. Next time you’ll be smarter.
      1. Nikolai Grek 14 May 2020 04: 15 New
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        Quote: knn54
        What does it mean to "get along" with the Yankees: They first gave "recommendations", and when it didn’t work out with the Russian Federation, right away. Next time you’ll be smarter.

        pseudo-communist commentators, too, something not to see !!! laughing
    5. orionvitt 13 May 2020 15: 48 New
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      Now, ordinary Saudis have to work at least somehow, and not sit on the neck of the state and wage workers. laughing
    6. Nikolai Grek 14 May 2020 03: 46 New
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      Quote: Olgovich
      Yeah, the Saudis broke .... YOURSELF!

      Now cut ALL budget expenses ...

      and the comments on the skok article, see ??? what several hundred ... noooooo, don’t you see ?? !!! wink laughing
  2. Evil 55 13 May 2020 14: 22 New
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    One more Jumpers, only Middle Eastern ... There would be no oil where their show-offs would go.
  3. rotmistr60 13 May 2020 14: 28 New
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    Saudi budget deficit will be at least 62 billion dollars. This is more than 8% of the country's GDP
    Apparently, it was time for the Saudis to collect stones that they so easily (in their opinion) scattered.
    1. The comment was deleted.
  4. zwlad 13 May 2020 14: 28 New
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    no need to cut the branch on which you sit if there are no thick supports under it
    1. Gray brother 13 May 2020 14: 36 New
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      Quote: zwlad
      no need to cut the branch on which you sit if there are no thick supports under it

      These stakes are there.
      1. Husit 13 May 2020 14: 47 New
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        Quote: Gray Brother
        Quote: zwlad
        no need to cut the branch on which you sit if there are no thick supports under it

        These stakes are there.

        Substituted by all the Arab people in BV ..
      2. Cowbra 13 May 2020 14: 53 New
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        They believed that they had the USA there. They desperately need oil, but the Saudis need a lot of it) But then it turned out that the United States did not need oil, but the price of oil - they consider the price of gas from it, and there will be no price — krants to shale and hello 20% of US unemployment.
        So they snatched pendals from everywhere.
        And this is just the beginning! They used to have everything there for free, now you have to pay for everything, and even work! A palace coup is quite likely, and then - according to the scenario of Ukraine - there will still be problems with the coup
        1. orionvitt 13 May 2020 15: 56 New
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          Quote: Cowbra
          The US does not need oil, but the price of oil - from it they count the price of gas

          From the price of oil, consider the price of the dollar itself, as it is. And the collapse of the dollar threatens the world and the United States with much greater shocks than the collapse of the oil market.
          and then - according to the scenario of Ukraine
          They will give all the oil for nothing, as Ukraine gave the land. Yes, and in the war they will face, with the same Iran. Hussites were not forced upon them. Nothing new is happening in the world.
        2. Nikolai Grek 14 May 2020 04: 22 New
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          Quote: Cowbra
          They believed that they had the USA there.

          noooooooo, not so ... they thought that the tincture is cool, that they’ll bend everyone ... well, uh ... maximum, a little less cool usa will help them ... but then the whole, whole world will bend .... and by the end it turned out that both they and the Americans had done it !!! request laughing
  5. rocket757 13 May 2020 14: 44 New
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    The unexpected man overtook unexpectedly!
    It’s normal when unhealthy ambition replaces common sense!
  6. abc_alex 13 May 2020 15: 00 New
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    Yeah of course. It was the Saudis who broke the regulatory mechanism of the oil market. Not shale shtansoviki with their policy of headless hens and clinical lack of maturity. How disgusting it is to see how all this media expert shusher is cowardly to blame the US oil crisis! Rotten rot.
    1. Gray brother 13 May 2020 15: 03 New
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      Quote: abc_alex
      How disgusting it is to see how all this media expert shusher is cowardly to blame the US oil crisis! Rotten rot.

      Both poets are equally worthy, it seems to me.
  7. APASUS 13 May 2020 15: 29 New
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    Something reminiscent of the American model of behavior before the search for democracy in the country.
  8. pogis 13 May 2020 15: 38 New
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    They will also cancel subsidies for 1/3 of the population from 01.06.20/2/XNUMX. So what can be Maidan, it is only a matter of time and hello Libya.
    1. Andobor 13 May 2020 16: 34 New
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      Quote: pogis
      hello libya-2

      And who will protect the Muslim shrines?
      - No matter how Putin had to send his "foot soldiers" there.
  9. Junior Private 13 May 2020 16: 20 New
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    The Saudis are weaned to work, instead they are injected by the comers. About 30% of the population live on benefits. The lack of combat-ready army. In those parts, it is historically customary to bend such sweets tightly. And they would have bent, if not for one BUT - this is the United States, the roofing of the Saudis, while they fit into the American democratic economy, scattering polymer dollars to the right and left. And here, America, completely unashamed, threatens to remove its military "roof." It is unlikely that they will do this, most likely they are just more bent over. In any case, the Saudis (and their neighbors too) will have problems.
  10. orlec 13 May 2020 16: 49 New
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    GDP slipped as much as 8% !!! Well, that's it, now the Saudis will surrender. Moreover, the BIGGEST DANISH publication wrote about it. Tin!
  11. Tank jacket 14 May 2020 02: 08 New
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    Did the Saudis lose the oil war?
    Did the Saudis sponsor terrorists in BV and here in Chechnya?
    1. novel66 14 May 2020 07: 20 New
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      mean. still have to stay
  12. sen
    sen 14 May 2020 04: 27 New
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    A little more and you can arrange a "color" revolution in Saudi Arabia.
    1. novel66 14 May 2020 07: 21 New
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      they have a sand revolution
      1. Nikolai Grek 14 May 2020 17: 56 New
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        Quote: novel xnumx
        they have a sand revolution

        there will be some Wahhabi !!! wassat
  13. Tank jacket 14 May 2020 07: 55 New
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    Quote: novel xnumx
    mean. still have to stay

    Novel, hi , there is still a debt for the collapse of oil prices in the 80s ...
    1. novel66 14 May 2020 18: 55 New
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      time to recover