24.11.2015 - Saudi Arabia’s pockets are deep enough to weather oil price slump
The recent slump in the price of crude oil has led many to predict Saudi Arabia’s imminent economic collapse. The country derives more than 80pc of its total revenues from the sale of black gold, according to official government figures. It clearly has to change how it operates: spending cuts and other measures to tackle the deficit are needed over the next few years. But things are not as bad as they may look at first glance. Saudi Arabia managed to save a lot of money from the oil rally between the early 2000s and last year...............................................Full Article: Source
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