Saudi Government Revenues and Expenditures: A Financial Crisis in the Making Abdulaziz Aldukheil

ISBN: 9781137346025

Published: November 12th 2013

Hardcover

244 pages


Description

Saudi Government Revenues and Expenditures: A Financial Crisis in the Making  by  Abdulaziz Aldukheil

Saudi Government Revenues and Expenditures: A Financial Crisis in the Making by Abdulaziz Aldukheil
November 12th 2013 | Hardcover | PDF, EPUB, FB2, DjVu, talking book, mp3, RTF | 244 pages | ISBN: 9781137346025 | 3.44 Mb

When Saudi Arabia was founded in 1932 it was one of the poorest countries in the world, relying on limited revenues from agriculture and pilgrimage. Today, Saudi Arabias economy is heavily dependent on oil. Wealth derived from oil has transformedMoreWhen Saudi Arabia was founded in 1932 it was one of the poorest countries in the world, relying on limited revenues from agriculture and pilgrimage.

Today, Saudi Arabias economy is heavily dependent on oil. Wealth derived from oil has transformed the Saudi society from a state of poverty to one of lavish consumption, by both government and individuals. A high rate of annual population growth, coupled with meagre natural resources, raises growing concern about the countrys future. Are there alternative sources of income to replace oil as the major source of government income in the future?This perfect storm raises the possibility of a potential government financial crisis, if things remain as they are.

The crisis will be beyond the governments control and will lead to economic, political and social instability. In this important work, Aldukheil explains what needs to be done, what needs to be reformed, and even gives policy recommendations to prevent a crisis in Saudi Arabia.



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