The Independent: Saudi Arabia's deficit this year 52 billion dollars and unemployment 12%[/rtl]
[rtl]Release date: 2018/2/1 9:00 • 88 times scheduled[/rtl]
(Al-Furat News) A British newspaper predicted that Saudi Arabia will face a huge financial deficit in 2018.
The Independent newspaper published an article by author Samuel Osborne entitled: "Saudi Arabia denies foreigners to perform some jobs to provide citizens."
The author explains in his article the reasons that led the Kingdom to take this decision, which comes after the publication of statistics indicate that the rate of unemployment among Saudis to more than 12 per cent.
Osbourne explained that a ministerial decree made employment in the private sector only 12 Saudis from September due to the budget deficit resulting from the drop in oil prices during the previous two years, which precipitated the decision.
The decree also comes as part of pledges made by Crown Prince Mohammed bin Salman to provide more jobs in the private sector. The prince said in an interview with the Economist in 2014 that he has about 10 million private sector jobs he can turn to, At any time to solve the unemployment crisis among citizens.
Bin Salman said in the same interview that at the same time he does not want to pressure the private sector and will not resort to this idea unless he is forced to, adding that the decision came days after "the state's acquisition of about 400 billion riyals from a number of Princes and businessmen in an anti-corruption campaign. "
The newspaper said that this amount will support the state budget, which is expected to see a huge financial deficit during the current year amounting to 195 billion riyals (more than $ 52 billion).