ఆర్థిక సుడిగుండంలో సౌదీ అరేబియా, రాచరికం మేల్కొంటుందా? || Saudi Arabia In Deep Crisis ||
Saudi Arabia’s economic downturn is about to worsen. Already reeling from the slump in oil prices and lockdowns , the kingdom has now increased taxes and cut spending. While the government says overall expenditure will remain broadly in-line with the 1 trillion riyals ($266 billion) outlined in the 2020 budget, tripling value-added tax and cutting bureaucrats’ allowances will damage consumption and hurt the private sector that is key to Crown Prince Mohammed Bin Salman’s vision to diversify the economy away from oil. And while raising VAT should help rein in a widening budget deficit, it will make the country less competitive than other Gulf states when it’s trying to attract more foreign investment.
Read more at: https://www.bloombergquint.com/markets/the-radical-shift-that-may-worsen-saudi-arabia-s-economic-crisis
Copyright © BloombergQuint
An Indo-American News website. It covers Gossips, Politics, Movies, Technolgy, and Sports News and Photo Galleries and Live Coverage of Events via Youtube. The website is established in 2015 and is owned by AGK FIRE INC.
ఆర్థిక సుడిగుండంలో సౌదీ అరేబియా, రాచరికం మేల్కొంటుందా? || Saudi Arabia In Deep Crisis || Saudi Arabia’s economic downturn is about to worsen. Already reeling from the slump in oil prices and lockdowns , the kingdom has now increased taxes and cut spending. While the government says overall expenditure will remain broadly in-line with the 1 trillion riyals ($266 billion) outlined in the 2020 budget, tripling value-added tax and cutting bureaucrats’ allowances will damage consumption and hurt the private sector that is key to Crown Prince Mohammed Bin Salman’s vision to diversify the economy away from oil. And while raising VAT should help rein in a widening budget deficit, it will make the country less competitive than other Gulf states when it’s trying to attract more foreign investment. Read more at: https://www.bloombergquint.com/markets/the-radical-shift-that-may-worsen-saudi-arabia-s-economic-crisis Copyright © BloombergQuint
This website uses cookies.