The war on Yemen is draining Saudi economy…Economic report
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The war on Yemen is draining Saudi economy…Economic report

The war on Yemen to preserve the interests of the Zionist regime has cost the Gulf regimes an enormous cost.

 

In response to the crimes committed by the Saudi regime against humanity in more than two years, Yemen has put it in a dilemma that cannot be solved simply.

As the information indicates, this war cost more than 200 million dollars every day on the Gulf regimes, as there are wonderful numbers and figures in the bill of this false war and estimated the cost of this war from 20 billion dollars to 660 billion dollars and the other by 700 billion dollars, figures related to the end of March 25, 2017.

The International Monetary Fund (IMF) recently published a report of its mission to visit Article IV consultations with Saudi Arabia in 2015. The report said the Saudi financial situation was affected by the drop in oil prices and predicted that the budget deficit would reach 20% of GDP.

As observers see in the economy, the cost of the war on Yemen drains the Saudi economy, and Saudi Arabia and its allies, led by the UAE, which has many ambitions in Yemen, slipped into a great predicament and were involved in a war of attrition of the heavy caliber that is almost like the attrition suffered by the United States Wars in Vietnam, Afghanistan and Iraq. This attrition has clearly manifested itself in the huge spending on the war, which has not stopped since its launch more than two years ago, forcing Saudi Arabia to buy more weapons and to invest more money and savings in the war in reality.

The repercussions of this heavy material cost of the Saudi war have begun to appear in the worsening of the Saudi budget deficit, where the deficit amounted to nearly 200 billion riyals, while the economic reports of the cessation of many projects and the bankruptcy of companies and the sale of shares in financial institutions and banks, and the demobilization of tens of thousands of workers, as it was decided to officially tax the citizens.

Recent reports have revealed that the Saudi economy is poised for one of its darkest periods as oil prices continue to fall since mid-2014, with economic analysts predicting that Saudi Arabia, the world’s biggest oil exporter, will record a record budget deficit.

To cover this deficit, the government has withdrawn more than $ 80 billion in foreign reserves since August. In a subsequent move, the kingdom’s authorities have addressed local banks to issue 20 billion Saudi riyals ($ 5.33 billion) to finance to the budget deficit.

There is no doubt that the Kingdom of Saudi Arabia bears full responsibility for the costs of the war on Yemen in light of the drop in oil prices and the increase in arms expenditures due to the continued aggression. But the biggest danger will not stand at the limits of spending and its height, but will affect the area of ??investment in the region, especially in the Gulf countries. Which is being discussed today, regarding the future economic situation of the region. How can the reality of the increase in war expenses be described in Yemen? What are the potential negative consequences of this war on the Gulf countries, which depend mainly on energy sources in their economies?

Since the beginning of its unjust aggression against Yemen, the money of the Saudi people has been wasted in a hysterical and insane manner, where Foreign Policy magazine revealed the cost of the Saudi war on Yemen, where it stated that the costs of two wars were followed by six frigates, as well as the cost of the soldiers on board of up to 6000 soldiers, their distance and equipment and 450 aircraft and their guns and long-range missiles, which means that the total cost of the barges with their accessories amounted to 54 billion dollars.

The cost of using two military satellites per hour is $ 1 million. With a simple calculation, the cost of two satellites per day is $ 48 million, which means $ 1 billion and $ 440 million per month, which means $ 8 billion and $ 640 million.

Undoubtedly neglecting an important dimension such as the cost of this war on the Saudi economy is a drop in the IMF report. The report included allowing foreign investors to the stock market as a positive event, noting the importance of issuing government bonds to cover the deficit while neglecting the cost of war on the economy.

There is no doubt that the continuation of the war will not only have a negative impact on the increase in the volume of military spending, but will have a significant impact on investment areas, especially in the Gulf States. Stability is the most important factor in attracting investment. The continuation of the war means that there will be no stability in the Gulf States, because the repercussions of the war will affect the region, at a time when wars are getting out of hand, especially with regard to the results.

In the end, Saudi Arabia bears the brunt of the cost of the war in Yemen. This comes in light of the drop in oil prices and the increase in arms expenditures. The question is: What are the potential consequences of this war for Gulf countries whose economies rely mainly on the sale of energy sources?

pk.shafqna.com

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