(Bloomberg) -- Saudi Arabia faces the most precarious moment yet of its economic reinvention.
Eight years after now-Crown Prince Mohammed bin Salman unveiled Vision 2030, his blueprint for a life after oil, delays and scalebacks with the multitrillion dollar makeover are laying bare the pressure on the kingdom’s finances.
With the budget in deficit for six straight quarters, Saudi Arabia has become the biggest issuer of international debt in emerging markets. And its decision to cut oil production with other OPEC+ members in 2023 has failed to raise export revenues substantially.
Here is a look at the key stress points.
Petrodollar Reliance....
More
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Eight years after now-Crown Prince Mohammed bin Salman unveiled Vision 2030, his blueprint for a life after oil, delays and scalebacks with the multitrillion dollar makeover are laying bare the pressure on the kingdom’s finances.
With the budget in deficit for six straight quarters, Saudi Arabia has become the biggest issuer of international debt in emerging markets. And its decision to cut oil production with other OPEC+ members in 2023 has failed to raise export revenues substantially.
Here is a look at the key stress points.
Petrodollar Reliance....
More
Saudi Arabia Crown Prince’s Transformation Stress-tests Economy and Stretches Petrowealth
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