Tag Archives: ‘Genie Let Out Of The Bottle: Not Much Saudis Can Do To Prevent Possible Unrest Caused By Budget Deficit’

‘Genie Let Out Of The Bottle: Not Much Saudis Can Do To Prevent Possible Unrest Caused By Budget Deficit’ – 29 December 2014

RT logoThe population of Saudi Arabia is predominantly male, young and unemployed, and it would be difficult for Riyadh to keep the growing discontent under control after announcing a budget deficit, Margaret Bogenrief from ACM partners told RT.

Saudi Arabia, the biggest world’s oil exporter, has predicted a US$39 billion deficit in 2015. This is a result of a 50 percent drop in the price of oil in the second half of this year.

RT: What measures can Saudi Arabia take to limit the damage here?

Margaret Bogenrief: I think what is most interesting, and you are seeing this really with a lot of countries throughout the Middle East, is the genie has kind of been let out of the bottle. I mean, in Saudi Arabia its oil prices, in other countries like Iraq it’s the dissolution of the previous government. I don’t know if there is a lot that Saudi Arabia can do in 2015 to really take care of its citizenry and to prevent the unrest that you see is growing there. If you look at its population, it’s predominantly male, young and unemployed. And I don’t know if there is a lot that they can do to keep that under control.

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