3 ms·
Could you expand? From the military point of view is one of the strongest countries of the Middle East. I visited Saudi Arabia and the people live well there (e
by wslh 3y ago
Could you expand? From the military point of view is one of the strongest countries of the Middle East. I visited Saudi Arabia and the people live well there (e.g. health coverage) I am not making any cultural statement. Another thing that was blurred by October 7th is establishing relations with Israel.
- ortusdux 3y agohttps://en.wikipedia.org/wiki/Economy_of_Saudi_Arabia https://en.wikipedia.org/wiki/Economy_of_Saudi_Arabia "The Saudi economy is highly reliant on its petroleum sector. Oil accounts on average in recent years for approximately 40% of Saudi GDP and 75% of fiscal revenue, with substantial fluctuations depending on oil prices each year." "In 2016, the Saudi government launched its Saudi Vision 2030 program to reduce its dependency on oil and diversify its economic resources. By 2022, Saudi Arabia had only modestly reduced its dependence on oil."
- JCM9 3y agoIf the oil revenue went away, or even declined a lot, the country would be in serious trouble. They’ve been working to get ahead of that for a long by time diversifying, but from an economic risk standpoint they’re still far too dependent on oil revenues.