Is Saudi Arabia facing Economic Collapse ?- Stock Market Crash

Is Saudi Arabia facing Economic Collapse — Stock Market Crash
Is Saudi Arabia’s economy collapsing?
Saudi Arabia, like many countries, is ruled by short-term thinking . But the House of Saud is making its mistakes in a part of the world where the phrase “heads will roll” has retained its literal meaning.
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The Saudi economy is transitioning away from petroleum-based industries through reforms and diversification due to sustained lower oil prices and unsustainable budget deficits. The economy is not in collapse, but there are many changes taking place, and some have been more challenging than others. External consultants, including McKinsey and Palladium, are strategically assisting KSA leadership through this developmental process under the Vision 2030 plan.
The short-term, commercialist thinking of Saudi Arabia’s leaders is doing them in. Here is a rundown of Saudi Arabia’s current economic situation: Saudi Arabia,السعودية,مصر,Gold,Financial News,economic collapse,coast to coast am,robert kiyosaki rich dad poor dad,rich,ww3,deutsche bank,China trade war,Argentina depression,Stock Market Crash,market crash,zerohedge,economic collapse blog,x22report,SGT Report,Dahboo77,documentary,Greg Mannarino,Aramco,crude oil,oil price,Yemen,Houthi Rebels,drone attack,Iran,Riyadh,Khurais field,oil market,Kuwait,United Arab Emirates
The per-capita GDP is $21,096, highest of all the mostly Muslim countries, though it is slightly down from last year. Petroleum accounts for 90% of exports. Although the oil will not run out anytime soon, the shale revolution has allowed other countries to become less dependent on Arab oil, and Saudi Arabia is now third among oil producers, after the United States and Russia. Saudi Arabia’s leaders have been talking about the need for diversity for a long time, but no change is forthcoming.
Income inequality is very high, and the youth unemployment rate is 25%. Saudi Arabia closed out 2017 with government debt at 17% of GDP, up from 2% three years earlier.

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recommended economic and financial books :

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How an Economy Grows and Why It Crashes by Peter Schiff :

Bitcoin: The End Of Money As We Know It

The Death of Money: The Coming Collapse of the International Monetary System

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Is Saudi Arabia facing Economic Collapse ?– Stock Market Crash