Actually, I don't know how true this is. Saudi Arabia has an enormous welfare state - both officially with many subsidies, and and hoc "grants" that you can get

Actually, I don't know how true this is. Saudi Arabia has an enormous welfare state - both officially with many subsidies, and and hoc "grants" that you can get off your local royal family representative for one off emergency expenses etc. In many ways this is what is bankrupting the country, much more than the rampant corruption (which is still enormous, but pales into comparison with public spending). The population of Saudi is absolutely exploding - nearly doubling every 20 years. It has a very young population with poor job opportunities, in a very energy intensive place to house people (AC demands and lack of fresh water). This had led to completely unsustainable public spending. The revenue from oil is enormous but it's not growing in line with population and welfare spending. And the Saudi royal family know the people will turn quickly against them if the welfare tap is turned off. They are in a really tricky position. While the royal family is outrageously wealthy, the country itself over the past decade is getting pretty broke. And with such population growth every year it becomes harder and harder to keep up. I imagine this is why MBS is trying to push economic reform so much, almost at all costs, because he knows the game is up. But it is going to be very difficult to turn this quite literal oil tanker around.