Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

[SAT]

Oct 6

International Monetary Fund forecasts that Saudi Arabia's budget surpluses will gradually decline before dropping into deficit by 2016 are a "doomsday scenario", the kingdom's Finance Minister Ibrahim Alassaf said on Saturday.

http://news.yahoo.com/saudi-says-imf...NQtmQAmsvQtDMD

[SAT]

Re: Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

Another odd story

Oct 7

Al Qaeda leader urges holy war over Prophet film

Read more: http://www.foxnews.com/world/2012/10...#ixzz29tm8TeZo

But it has been a week and no one even talks about it.

[SAT]

Re: Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

Interesting commentary

Oct 18
We Need A New Vision For The Greater Middle East

Neither approach can serve U.S. interests in the years to come. We can’t try to install democracy on the cheap. But, we also can’t once again rely on autocrats to maintain stability, for the people of the region have made clear that they want a brighter future of more economic prosperity and governmental accountability.

Consequently, whoever occupies the Oval Office in the next four years will need an approach that, while protecting America’s short-term security concerns, will help meet those long-term popular aspirations. That will make for a freer and more democratic region from which we will benefit back home

http://www.ibtimes.com/we-need-new-v...le-east-848655

[SAT]

Re: Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

Oct 6



http://news.yahoo.com/saudi-says-imf...NQtmQAmsvQtDMD

There are very few articles mentioning what the IMF stated to the GCC members
to bring on such a reaction from their members. Preferring to mention the good stuff
IMF chief praises Gulf effort on oil price management
http://www.reuters.com/article/2012/...89507A20121006

But react they did..
We do know they were warned about the price of oil dropping and..

“Employment and job creation has taken center stage in the global economy in recent years. For several GCC countries, job creation for nationals is a key priority. Growth alone will not be enough. Steps to strengthen education and training, better job placement services, and measures to improve the relative attractiveness to employees of private versus public sector employment will also be needed.

http://www.imf.org/external/np/sec/pr/2012/pr12383.htm
They were pressured to conform and change their ways/culture.

[SAT]

Re: Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

Hmm I'm hearing politicans promising they are going to get the price of oil down.
The IMF has been warning the GCC states they need to get their economic, cultural and social business in order as the price of oil is going to drop.

Interesting.

[SAT]

Re: Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

UAE upbraids European Parliament over human rights resolution

The European parliament resolution said the UAE had "accelerated its crackdown on human rights defenders and civil society activists, bringing the number of political detainees to 64", most held in solitary confinement and without legal help.

It said others had been subjected to harassment, travel bans and deportation.

In March, the UAE closed two international thinktanks promoting democracy overseas, Germany's Konrad-Adenauer-Stiftung and the U.S.-funded National Democratic Institute, without giving reasons.

http://www.reuters.com/article/2012/...8LR0SV20121027

[SAT]

Re: Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

UAE slams foreign designs on GCC

Rejecting accusations of human rights violations in the country, he said the UAE does not need lecturing from abroad.

Gargash said some Islamic institutions in Europe are working for pure partisan purposes. Instead of targeting the UAE, these institutions should be representing “our great religion and its civilised message”.

He said the present crisis has unmasked pretentious players and diffrentiated the real preachers of our great religion from those who speak the ideologies of partisan countries.

http://www.khaleejtimes.com/nation/i...ion=government

[SAT]

Re: Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

U.S. oil output is surging so fast that the United States is catching up to Saudi Arabia as the world’s biggest producer.

http://www.theglobeandmail.com/repor...24/?cmpid=rss1

The boom has surprised even the experts.

“Five years ago, if I or anyone had predicted today’s production growth, people would have thought we were crazy,” says Jim Burkhard, head of oil markets research at IHS CERA, an energy consulting firm.

[Andy]

Re: Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

U.S. oil output is surging so fast that the United States is catching up to Saudi Arabia as the world’s biggest producer.

http://www.theglobeandmail.com/repor...24/?cmpid=rss1

Okay, so how about a reduction in cost at the pumps, etc.??
I've heard many times that gas in Mexico and other oil-rich countries is really cheap.

[SAT]

Re: Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

I know what you mean Andy. I've seen articles stating Canada has been finding oil on our east coast(most already know about our west coast oil) that could put us in competion with the Saudi's just from what they are finding on the east coast.
Plus being the same "union" I suspect together our dependence on the Arabs has diminished greatly.
In the past-The long standing deal the US had with those GCC countries and the high price of oil has encouraged selling it outside North America.

[SAT]

Re: Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

This is an older thread I'm resurrecting!

Kuwait making tentative steps to connect with youth

The International Monetary Fund has warned that Kuwait may exhaust all of its oil savings by 2017 if it keeps raising state spending at the current rapid rate.

http://www.reuters.com/article/2013/...Name=worldNews

[SAT]

Re: Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

Bahrain

“There is now an urgent need to initiate a medium-term fiscal strategy with a view to adopt a gradual retargeting of subsidies, contain public-sector wage increases, increase non-oil revenues, rationalize capital expenditures, and place the pension fund on a sustainable path,” the report said. It did not give a 2013 budget deficit forecast and projected public debt could grow to 61 percent of GDP by 2018 without a stricter fiscal program.

http://www.bloomberg.com/news/2013-0...e-by-2018.html

Price of oil drops after study shows U.S. output rising

http://www.denverpost.com/business/c...u-s?source=rss