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Saudi posts record $98 bn deficit in 2015
Posted on 12/28/15 at 1:34 pm
Posted on 12/28/15 at 1:34 pm
quote:
Revenues were estimated at 608 billion riyals ($162 billion), well below projections and 2014 income, while spending came in at 975 billion riyals ($260 billion), ministry officials announced at a press conference in Riyadh.
quote:
The budget deficit is the highest in the history of Saudi Arabia, the world's largest oil exporter, but was not as big as some expected.The International Monetary Fund had projected the 2015 deficit to be around $130 billion and other reports also put it above $100 billion.
LINK
While oil is down to $37
This post was edited on 12/28/15 at 1:36 pm
16
Posted on 12/28/15 at 1:35 pm to Dire Wolf
What you want me to do?
Posted on 12/28/15 at 1:36 pm to Dire Wolf
ALL THAT MONEY................. 
Posted on 12/28/15 at 1:36 pm to OweO
Well write 'em a check DUDE!
Posted on 12/28/15 at 1:37 pm to Dire Wolf
It's strange too b/c Saudi is moving forward on almost all of their mega-projects. We do significant work there.
Posted on 12/28/15 at 1:37 pm to Dire Wolf
Good. It's hurting them more than it is us.
Posted on 12/28/15 at 1:38 pm to Dire Wolf
I wonder if they will continue to give oil away?
Posted on 12/28/15 at 1:38 pm to Dire Wolf
I can think of at least two boards this thread would be better suited for
Three, if you remember most Arabs are ghey and like soccer
Three, if you remember most Arabs are ghey and like soccer
Posted on 12/28/15 at 1:39 pm to Dire Wolf
I guess they could get some little Saudi kid on TV and have Sarah McLachlan singing and the dumb arse liberals could send them some money.
Posted on 12/28/15 at 1:40 pm to Dire Wolf
It's funny you should post this. Over Christmas my cousin who is in the industry told me the Saudis were running out of money.
Posted on 12/28/15 at 1:40 pm to Kafka
quote:
I can think of at least two boards this thread would be better suited for
i rather not get on the poli board and I forget about the money one.
Posted on 12/28/15 at 1:52 pm to Scoop
They're not running out of money. They can do this for another 5 years.
Posted on 12/28/15 at 2:01 pm to Scoop
quote:
It's funny you should post this. Over Christmas my cousin who is in the industry told me the Saudis were running out of money.
It's true. It's a powder keg. They have probably 30 million regular mo's to take care of and the funds are dwindling fast.
Posted on 12/28/15 at 2:03 pm to Dire Wolf
Now they'll have to postpone funding the next 9/11.
Posted on 12/28/15 at 2:04 pm to C
They are playing a dangerous game trying to make other producers capitulate and the stakes are high for them and other oil producing countries including the U.S. But with oil in the 30 range and possibly going lower it is not sure how long they can or will allow it. Russia and even the U.S. have so far been somewhat resilient but that probably will change if the current price continues. Venezuela is really hurting.
Posted on 12/28/15 at 2:07 pm to C
Yep, they still have $500-$600 billion in cash reserves, reportedly. They can always sell bonds to raise more money as well.
Posted on 12/28/15 at 2:20 pm to GoldenD
frick them. Arabs with oil money have damn near ruined the world.
Posted on 12/28/15 at 2:23 pm to GoldenD
quote:
Yep, they still have $500-$600 billion in cash reserves, reportedl
Exactly. They can run a deficit without borrowing money and paying interest for at least another 4-5 years. They are currently doing what they wanted to do.
Posted on 12/28/15 at 2:23 pm to Dire Wolf
How does this compare to the US deficit?
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