Remember the 500 billion dollar Saudi city project called NEOM?
https://en.m.wikipedia.org/wiki/Neom
How will they fund it?
The ipo of Saudi Aramco has been delayed and may not happen, they don’t want to sell it for less than it’s worth.
The anti corruption drive has led to fewer business investments, optimism is low.
The Yemen war has ruined Saudis reputation and maybe fewer want to engage with them.
Could they take 500 billion dollars of debt instead of sellling shares?
The emerging market currency crisis like in Turkey tells us about the dangers of debt when the US is raising interest rates. Spillover effects is possible.
So Saudi Arabia won’t reach the 2030 goals and that’s their faults. They’ve wasted oil money in the good years and need them now in the bad year.
Who will save Saudi Arabia?
https://en.m.wikipedia.org/wiki/Neom
How will they fund it?
The ipo of Saudi Aramco has been delayed and may not happen, they don’t want to sell it for less than it’s worth.
The anti corruption drive has led to fewer business investments, optimism is low.
The Yemen war has ruined Saudis reputation and maybe fewer want to engage with them.
Could they take 500 billion dollars of debt instead of sellling shares?
The emerging market currency crisis like in Turkey tells us about the dangers of debt when the US is raising interest rates. Spillover effects is possible.
So Saudi Arabia won’t reach the 2030 goals and that’s their faults. They’ve wasted oil money in the good years and need them now in the bad year.
Who will save Saudi Arabia?