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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Saudi Arabia risks increasing spending despite falling oil prices

    Rocky
    Rocky
    Rocky
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    • Post n°1

    Saudi - Saudi Arabia risks increasing spending despite falling oil prices Empty Saudi Arabia risks increasing spending despite falling oil prices

    Post by Rocky Sat 05 Jan 2019, 2:16 am


    Saudi Arabia risks increasing spending despite falling oil prices

    10:58 - 05/01/2019



    Saudi - Saudi Arabia risks increasing spending despite falling oil prices %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-1-696x522
    Information / Baghdad ..
    The Saudi Daily Telegraph newspaper reported on Saturday that Saudi Arabia risks increasing spending despite low oil prices on world markets.
    "Despite the volatile start of oil markets in early 2019, Riyadh insists on adopting a" dangerous economic strategy aimed at appeasing its people, "the newspaper said in a report published by the BBC.
    "The budget of Riyadh in 2019 gives the impression that the country is ignoring the reality of oil prices, as spending will increase by 7 percent to 1.1 trillion Saudi riyals (equivalent to 232 billion pounds)," noting that "the budget also aims to increase the overall Government imports by 9 percent to reach 975 billion Saudi riyals during the next fiscal year, according to the Ministry of Finance Saudi Arabia.
    "The kingdom will need to sell oil for at least $ 84 a barrel for the whole year," the paper quoted analysts as saying. "The chances of this happening remain far away."
    Few analysts, however, predicted prices would be at this level, despite an agreement by the Organization of Petroleum Exporting Countries (OPEC) with Russia and its allies to cut 1.2 million bpd of oil production starting this month.
    Brent crude prices were around $ 56 a barrel this week, down about 40 percent from October, he said.
    Paul Gruenwald, an international economic analyst at S & P Global Consulting, said he expected a slowdown in global GDP growth this year led by the US economy, with expansion to fall by about 2 percent by the end of 2019. China, the largest oil importer In the world, you will see that the amazing economic growth rates are becoming more modest.
    Credit rating agencies have also lowered their forecast for Brent crude prices by $ 10 a barrel to $ 55 a barrel in 2019.
    Taking all these factors into account, the writer concludes that Saudi Arabia risks adopting such an expansionary budget at a time when short-term prospects for oil prices, which account for more than 70 percent of Saudi export revenues, are not very promising. Ending / 25

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    Rocky
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    Join date : 2012-12-21
    • Post n°2

    Saudi - Saudi Arabia risks increasing spending despite falling oil prices Empty Saudi Arabia risks increasing spending despite falling oil prices

    Post by Rocky Sat 05 Jan 2019, 4:12 am

    Saudi Arabia risks increasing spending despite falling oil prices

    Saudi - Saudi Arabia risks increasing spending despite falling oil prices 12209


    The Saudi Daily Telegraph newspaper reported on Saturday that Saudi Arabia risks increasing spending despite low oil prices on world markets.
    "Despite the volatile start of oil markets in early 2019, Riyadh insists on adopting a dangerous economic strategy aimed at appeasing its people," the newspaper said in a report published by the BBC.
    "The budget of Riyadh in 2019 gives the impression that the country is ignoring the reality of oil prices, as spending will increase by 7 percent to 1.1 trillion Saudi riyals (equivalent to 232 billion pounds)," noting that "the budget also aims to increase the overall Government imports by 9 percent to reach 975 billion Saudi riyals during the next fiscal year, according to the Ministry of Finance Saudi Arabia.
    "The kingdom will need to sell oil for at least $ 84 a barrel for the whole year," the paper quoted analysts as saying. "The chances of this happening remain far away."
    Few analysts, however, predicted prices would be so high, despite the Organization of the Petroleum Exporting Countries (OPEC) agreeing with Russia and its allies to cut 1.2 million bpd of oil production starting this month.
    Brent crude prices were around $ 56 a barrel this week, down about 40 percent from October, he said.
    Paul Gruenwald, an international economic analyst at S & P Global Consulting, said he expected a slowdown in global GDP growth this year led by the US economy, with expansion to fall by about 2 percent by the end of 2019. China, the largest oil importer In the world, you will see that the amazing economic growth rates are becoming more modest.
    Credit rating agencies have also lowered their forecast for Brent crude prices by $ 10 a barrel to $ 55 a barrel in 2019.
    Taking all these factors into account, the writer concludes that Saudi Arabia risks adopting such an expansionary budget at a time when short-term prospects for oil prices, which account for more than 70 percent of Saudi export revenues, are not very promising.
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