Since the country has had massive oil reserves and a low production cost, it is likely that this sector will remain a major source of government revenue for years to come. However, due to the increasing number of alternative energy sources, Saudi Arabia started losing pricing power. The price-and-revenue balance became instable, resulting in a shortfall in the usual spending habits. After the collapse in the global prices of oil in the second half of 2014, Saudi Arabia started analyzing long term fiscal plans. Enough funds existed to sustain the country on the short term; however on the long run, Saudi Arabia faced a number of policy choices.
Introduction Saudi Arabia is a resourceful country. Saudi Arabia is a country in the Middle East bordering the Persian Gulf and Red Sea. Extensive coastlines provide leverage on shipping, especially crude oil, through the Persian Gulf and Suez Canal. Neighboring countries include Iraq, Jordan, Kuwait, Oman, Qatar, United Arab Emirates, and Yemen. The geography of Saudi Arabia is primarily desert with rugged mountains in the southwest.
When he arrives in Saudi Arabia he notices different trends regarding labor, many people left their own countries to work in a nation that is on the rise. Also, the development of Saudi Arabia provides a new market for transactions to take place, it opens a door for new technologies and allows competition to take on a new market. Through his representation of Alan Clay, Egger’s novel suggests that global capitalism’s rippling effects reach out to the population by presenting
Saudi Arabia is a country in Southeast Asia with a population of approximately 19 million people. The country was established in 1932 by King Abdul Aziz Ibn Abdul Rahman Al Saud. In Saudi Arabia, female literacy is estimated to be at 50 per cent, and male literacy at 72 per cent (UNDP, 2003). According to the 1992 census, 4.6 million of Saudi Arabian residents were foreign workers. This explains why in Saudi Arabia women constitute seven per cent of the work force in 1990 and four per cent in 2003.
In the beginning education was available for only rich and most of children’s were from the wealthy families (About Saudi Arabia, 2013). The impact of transformation is that today there 25 universities in the Saudi Arabia and there are more than 30000 schools. The education is open to everyone as well as student are provided with free education, health facilities and books. As of today, there are more than six million student are enrolled in the school and universities in Saudi Arabia. (About Saudi Arabia, 2013).
Since Saudi Arabia is the birthplace of Islam and two of the holiest shrines are located in Mecca and Medina, it is known for having a strong religious belief system and a deeply rooted culture. The modern Saudi Arabia began in 1932 as this paved way to the unification of Saudi Arabia into one kingdom, and was founded by Abdulaziz ibn Abdul Rahman ibn Faisal ibn Turki ibn Abdullah ibn Muhammad Al Saud. The discovery of abundant reserves of oil in 1938 in the Al-Hasa region along the Persian Gulf Coast has made Saudi Arabia into being one of the largest key producers of this in-demand commodity worldwide. Located in the Middle East, bordering the Persian Gulf and the Red Sea, and north of Yemen, Saudi Arabia possesses 16% of the world’s petroleum
About 85% of the common populations of Saudi Arabia are Sunni Muslims; the main structure is Wahhabism (Peterson, 2003). Country’ population is 27 million, comprising 8.4 million foreign people. The atmosphere is for the most part extraordinarily extremely hot and dry; and dust storms and dust tempests are normal. Temperatures vary in day and night. From May to September, the most blazing time, daytime temperatures around 54°c (129°f) in the inside and are among the most astounding recorded anyplace on the world.
King Abdulaziz Bin AbdulRahman AlSaud The founder of the Kingdom of Saudi Arabia King Abdulaziz Bin AbdulRahman Bin Faisal Bin Turki Al Saud was the first monarch and founder of modern Saudi Arabia, the "third Saudi state”. The son of Abdulrahman bin Faisal, or Ibn Saud as he is know in the west, was born 1876A D in Riyadh from powerful linage the Al Saud Dynasty from which the modern day Kingdom takes its name. His family had been in power more than a decade facing many enemies and challenges which threatened their political status to the point of extinction. However with AbdulAziz’s courage and virtuousness, he changed the history of the Arabian Peninsula and reestablished his family 's rule. Background At the time of the death of Faisal Bin Turki 1865, the region had witnessed conflict
The author identifies beliefs and stereotypes as main causes. According to this article, social and religious beliefs make women rely heavily on men for their basic everyday survival. For instance, every woman in Saudi Arabia has a male guardian who could be their father or brother with legal power, from whom a woman needs permission to travel, get a job, go to school or seek medical advice. The article also explains that a woman in Saudi Arabia depends on him for money and housing, and because of the driving ban means that she will need someone to drive her around when going anywhere be it to the grocery store or to visit a friend. The also explain that Saudi Arabian women, until recently, were not allowed to vote, participate in any political matters or even have parliamentary
The purpose of this article is to study the crashes of housing market, emerging market, poor banking sector and of course recession. Findings of the study shows that growth and expending domestic demand may increase import demand and it will cause growing economics. A cross sectional data was used. Hassan B. Ghassan et al (2013) used time-series data from 1986 to 2010. According to this study the absence of cointegration between international liquitidy net export and GDP are the cause of financial crises and its impact on Saudi Arabia’s economy specially on oil production.