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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

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    Saudi Arabia plans to reduce its dependence on oil export revenues

    Rocky
    Rocky
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    • Post n°1

    Saudi Arabia plans to reduce its dependence on oil export revenues Empty Saudi Arabia plans to reduce its dependence on oil export revenues

    Post by Rocky Sun 24 Apr 2016, 3:07 am

    [ltr]Saudi Arabia plans to reduce its dependence on oil export revenues[/ltr]

     Since 04.24.2016 at 08:36 (Baghdad time)
    [ltr]Saudi Arabia plans to reduce its dependence on oil export revenues 16[/ltr]
    [ltr]Follow-up - the balance of News[/ltr]
    [ltr]Crown intends to Saudi Crown Prince, Mohammed bin Salman, announced on April 25, / this April, for a future vision of the Kingdom of Saudi Arabia, including economic and social changes and wide, in order to reduce the country's dependence on oil as the sole source of the Treasury Arabia.[/ltr]
    [ltr]And adopt and imports of the general budget of the Kingdom of the 90 percent of the oil sector, both exports and domestic production revenues.[/ltr]
    [ltr]The changes include the announcement put 5 percent of the shares of the company, "Aramco" the largest oil-producing companies in the world stock markets, as well as the creation of a sovereign fund by $ 2 trillion.[/ltr]
    [ltr]He pointed out the Crown Crown, during an interview with the magazine "Bloomberg Business" of America, that the economic plan, focused on transforming Saudi Arabia from a country dependent on oil revenues to the state of the economy on investments in non-oil, revealing that his economic team found that Saudi Arabia would have been the case obstructed amount to "total bankruptcy" in early 2017 if the economic policies did not change.[/ltr]
    [ltr]He explained that he had taken a number of measures to avoid this, so he cut the budget by 25 percent, and began to develop value-added and other fee tax, which contributed to the decline in the depletion of cash reserves of Saudi Arabia, which amounted to $ 30 billion per month during the first half of the 2015 rate.[/ltr]
    [ltr]Kingdom adopted decades ago on oil revenues, seeking through the new plan to provide $ 100 billion a year away from oil, and so by 2020.[/ltr]
    [ltr]The report, published by the American Journal said that the Kingdom is witnessing a significant reduction in foreign exchange reserves has raised concern adviser to Crown Crown, with the decline in oil revenues to $ 200 billion over the past two years.Ended 29/4 e[/ltr]


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