Saudi Arabia’s cash reserves are in free-fall and the country could have only five years of financial assets remaining due in large part to the fall in oil prices, according to a report by the International Monetary Fund (IMF).

In its World Economic and Financial Surveys, released every October, the IMF said that the kingdom will suffer a negative 21.6 per cent “General Government Overall Fiscal Balance” in 2015 and a 19.4 per cent negative balance in 2016, a massive increase from only -3.4 per cent in 2014.

Saudi Arabia currently has $654.5 billion in foreign reserves, but the cash is disappearing quickly.

The Saudi Arabian Monetary Agency has withdrawn $70 billion in funds managed by overseas financial institutions, and has lost almost $73 billion since oil prices slumped, according to Al-Jazeera. Saudi Arabia generates 90 per cent of its income from oil.

Earlier this year the kingdom doled out a massive $32 billion spending spree distributed to the public, to celebrate the coronation of King Salman Bin Abdulaziz Al Saud.

In 2015 Saudi Arabia also bypassed Russia to take over the world’s third spot in military spending, with a defence budget of $80.8 billion. Meanwhile the war in Yemen, being carried out mostly by the kingdom, shows no sign of abating.


The country is now expected to run a deficit of more than 20 percent of GDP in 2015, according to the IMF.

[size=28pt]Masood Ahmed, the IMF’s Middle East director, told reporters in Dubai that the fall in oil prices amounted to a ‘staggering $360 billion this year alone’.[/size]

Because the oil price drop is likely to be large and persistent, the kingdom is expected to join other oil exporters and make substantial budget cuts, Al-Jazeera wrote.

But even this may be counter-productive if consumers and companies decide to hold back consumption and investment in response to the cuts.
http://www.independent.co.uk/news/world/middle-east/saudi-arabia-could-be-bankrupt-within-five-years-imf-predicts-a6706821.html

nairalandmaster:
nice one op. keep it up

Ugomba:
They are playing a key role in funding middle east terrorists.

PappyMason:


Ibn Saud was only one step away from Bagdadi as a terrorist in that he did not declare himself a Khalifar.

This is because Ibn Saud who is the founder of modern day Saudi Arabia was not from the ordained Quarish tribe and also (most importantly) he was supported by the British to unsurp the Ottoman Empire - an Islamic Caliphate in it's own right.

The House of Saud has been sponsoring oversea jihads in order to prevent an Iranian styled Islamic revolution on Saudi soil.

Their days are numbered.

Without the petrolldollar and the imminent collapse of the US (via severe economic depression) and the EU (via the stupidity of opening their borders to the barbarian horde), watch how Saudi Arabia will overnight turn into Yemen - another failed state.

LoveMachine:


Imma need you to continue dropping knowledge on this subject.

Side note
What mad you take that username? Pappy was a baaaaaad man.

BackDatAssUp:
Ibn Saud waged a Jihad to unite feudal Arab communities into what is today's current Saudi Arabia.

Ibn Saud was supported by the British and Americans.

He utilised the same tactics and lunatics that Bagdadi and the Islamic State currently employ.

ISIS has no ambition to attack Saudi Arabia rather they see Saudi Arabia as their main inspiration and a model for an Utopic Islamic State.

Syria and Iraq will soon fall completely to ISIS. The Americans will allow these two countries to fall rather than support a regional power like Iran to intervene.

Once these two countries fall a revolution will sweep Saudi Arabia demanding to join Islamic State. Jordan and Lebanon will easily be taken. Islamic State will get a boost in Libya, Algeria, Tunisia and young volunteers will flock to fight the Egyptian regime which will be in the same spot as Assad- fighting it's own people in a Brutal civil war. America and the West will not support the military govt in Egypt just as they promoted war and anarchy in Syria. In less than 2 years from now, the Islamic State will encircle Israel.



And they went up on the breadth of the earth, and compassed the camp of the saints about, and the beloved city: and fire came down from God out of heaven, and devoured them.
-Rev. 20:9

LoveMachine:

Imma need you to continue dropping knowledge on this subject.
Side note
What mad you take that username? Pappy was a baaaaaad man.

BishopMagic:
Saudi Arabia is responsible for sectarian crisis in Northern Nigeria.

The foolish northern leaders collect millions from Saudi Arabia to build only mosques and Islamic centres.

The more radicalized a leader or governor is the more money they get.

This is Yerima's hustle and the true reason behind that sharia nonsense.

Boko Haram now ISWAP ( Islamic State of West African Province) gets logistics, funding primarily from Saudi Arabia.

Rather than invest in a post oil economy through diversification of their economy, the House of Saud is investing in global Jihad.

LoveMachine:


Imma need you to continue dropping knowledge on this subject.

Side note
What mad you take that username? Pappy was a baaaaaad man.

LeOstrich:
So we can see that from both past and present, the Saudi monarchy has been fighting day and night to remain in power.

One of the biggest flaw the Saudi monarchy has against it in the eyes of the Muslim world is its monarchical structure.

Islam is anti monarchy and the only form of govt allowed is a theoracracy.

Ibn Saud ( the founder of modern day Saudi Arabia) was supported by the British to unite feuding Arab tribes and clans in what is today present day Saudi Arabia but only on the condition that he does not declare himself Khalifar!

The British had their nightmares of Mahdist movements in Sudan where Khartoum was overran by Jihadist and the Colonial Governor of then Sudan, was beheaded.

Lord Lugard will apply restraint in dismantling the power blocs in northern Nigeria in order not to inspire another Mahdist movement against his relatively small number of troops stationed across northern Nigeria - A region of close to 30,000 sq miles!

Fast forward today, and the same Islamic State which was propped and financed by the US and the Saudi monarchy is now coming home to haunt them.

Even the likes of Osama bin Laden ( a Saudi Prince himself) frowned at the mention of a caliphate since this will undermine his own family legitimate claims to power in Saudi Arabia.

The current monarchy was obviously not paying attention to history and the demands of their own people when they created the Caliphate in Syria and Iraq. Now that same model of governance is what most saudis are demanding for to replace the monarchy.

Saudi Arabia is doomed

LeOstrich:
Many Saudis are not happy with the ruling class and there won't be any tears shed once they are kicked out.

The Saudi govt is also dangerously heading to bankruptcy with their failing and expensive war in Yemen coupled with the high budget deficit due to the low cost in oil which the Saudis have only themselves to blame by pumping too much oil into the market on the behest of the Americans, with this the Saudi govt is already cutting down on social services and subsidies to the anger of their lazy populace.


The hajj crane disaster and stampede also has made this current govt look very incompetent among their citizens that plus the leaked wikileaks files which revealed the royal family as boozing coke snorting swingers who like foriegn hookers has put the royal family as immoral leaders.

Putin will be ordering new changes in the entire region starting with Saudi Arabia.

LoveMachine:
Well damn. That was a lot to absorb at once. I'll definitely be doing some follow up research. Good looking fam.

PappyMason:


You can start with this thread https://www.nairaland.com/2644884/strong-indication-russian-backed-coup#38691322

I was banned by one of the boko moderators here and heckled by the YAMS for posting on Saudi Arabia's imminent bankruptcy a few months back under another handle.
Well, I am asking the foolish moderator and all the YAM goats to go and picket the IMF for issuing a bankruptcy warning to the Saudi govt.
ODES!