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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


    Bloomberg: "Vision 2030" flops from failure to failure!

    Rocky
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     Bloomberg: "Vision 2030" flops from failure to failure! Empty Bloomberg: "Vision 2030" flops from failure to failure!

    Post by Rocky Tue 03 Oct 2017, 3:09 pm

    [size=30]Bloomberg: "Vision 2030" flops from failure to failure![/size]
    03/10/2017 09:03 | Number of readings: 86
    font size:  Bloomberg: "Vision 2030" flops from failure to failure! Font_decrease  Bloomberg: "Vision 2030" flops from failure to failure! Font_enlarge
     Bloomberg: "Vision 2030" flops from failure to failure! Thumbnail.php?file=alalam_636426146477776182_25f_4x3_204612323
    [rtl]Trend Press / Agencies[/rtl]
     
    [rtl]The "Vision 2030" collides with Saudi Arabia's losses of public reserves, high debt and unemployment, on the back of declining oil prices and aggression on Yemen.[/rtl]
    [rtl]About 20 months after its launch, the vision of 2030, announced by Saudi Crown Prince Mohammed bin Salman, continues to falter from failure to failure. The vision of the diversification of the Saudi economy is still far from being reactivated by the slow growth of the non-oil economy. According to Bloomberg.[/rtl]
    [rtl]"Riyadh's efforts to diversify its economy and keep away from oil revenues as a single source of fiscal consolidation have so far failed," the Bloomberg news agency reported Tuesday.[/rtl]
    [rtl]The figures and economic data in 2017 were disappointing to decision-makers, and the figures are not in line with Saudi Arabia's plans to diversify the economy. The growth of the non-oil economy has not exceeded 0.6 percent, The ambitious Saudi government.[/rtl]
    [rtl]The decline in the Kingdom's overall financial reserves has had a major impact on undermining the "Vision 2030". Observers believe that the weak growth of the non-oil economy is due to the decline in government spending and the decrease in consumer demand, which made the growth of the non-oil economy difficult at the current stage. Authorities to cut subsidies and capital spending, in order to control the budget deficit of about 15 percent of GDP.[/rtl]
    [rtl]The Saudi government has announced that the latter financed the budget deficit during the last two years of the general reserve, at a time when the reserves fell from $ 346 billion and 600 million in December 2014, to 164 billion and 600 million dollars in July 2017, ie More than half, offset by a rise in public debt from $ 37 billion to $ 900 million, to $ 91 billion in June 2017, of which $ 54 billion and $ 5 million domestic debt, $ 36 billion and $ 5 million foreign debt.[/rtl]
    [rtl]The rise in the unemployment rate to 12.8 percent of the total population of the Kingdom, and the loss of the Saudi cash reserves of $ 74 billion in a year, in parallel with the rise in public debt, all economic factors, the "Vision 2030" to many obstacles. As Salman seeks to float himself out of that vision, it appears that the kingdom, which is suffering from low oil prices and rising expenses of its war on Yemen, is treating its economic failure with the ambitions of the crown prince.[/rtl]

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