Is 2020 the year of Riyadh’s collapse?

Is 2020 the year of Riyadh’s collapse?

Dec 19, 2019

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Reuters said forecasts see a $50 billion budget deficit as very likely. Last year also Riyadh faced a terrible budget deficit.

After Saudi Arabia announced its budget for 2020, it can be said that the kingdom is on the verge of economic collapse.

Reuters said forecasts see a $50 billion budget deficit as very likely. Last year also Riyadh faced a terrible budget deficit.

In 2019, one of Saudi Arabia’s major oil and gas production centers went up in flames after Yemen launched a missile attack against Aramco in response to Riyadh’s invasion.

That put Crown Prince bin Salman in deep trouble as the kingdom was preparing to share some of Aramco’s share, and news agencies claimed that Saudi Arabia’s defense minister and crown prince forced some royal family members to fix possible issues by buying Aramco’s share as soon as possible.

To satisfy Washington and amid the war against Yemen, the Al Saud was forced to strike a $300 billion arms deal with the United States, many experts call it unworkable and a major blow to the future Saudi economy.

On the other hand, Sana’a has warned that if Saudi Arabia continues the war against Yemen, it will respond with such fury that the economic situation in the region would change for even worse.

There are a few scenarios imaginable at this point:

1) If the war continues and Ansarullah missile attacks increases, Saudi Arabia could face serious national security challenges. With the start of the military invasion of Yemen and the increasing number of civilian casualties, many of Saudi’s allies  were forced to abandon military cooperation over human rights concerns.

The actions of the German government in the face of arms purchases can cause considerable problems in the battlefield for Saudi Arabia. Riyadh is dependent on arms purchases. Part of this arms purchase has been spent on warfare by terrorist groups in Syria and Iraq, the Independent reports.

2) Ben Salman’s decision to murder Jamal Khashoggi in Turkey the regime is nowfacing immense pressure around the world. Many are saying now that boycotting Saudi Arabia is the only way to reduce the regime’s interventionist policy of suppressing anti-government elements and promoting violence with the support of the Takfiri elements.

In the meantime, activist movements are calling to reduce foreign trade with Saudi Arabia, particularly in the Saudi defense and weapons sector. For example, the transfer of arms and foreign purchases of Saudi from Europe is a new challenge that Riyadh faces. Or in other, Riyadh contracts for 2030 projects in Saudi Arabia have been terminated and Saudi Arabia’s behavior in the West Asia region announced as the reason.

3) The tremendous budget deficit in 2018 and 2019 and the direct intervention of Bin Salman has become somewhat of a serious challenge for the Saudi princes and royal family. Earlier in 2017, with the capture of several princes, B?n Salman issued an order to seize the property that partially resolved the costly expenses of the family. On the other hand, the princes are under pressure from Bin Salman to spend money to solve his problems and decisions, which could lead to the Saudi princes to exit their capital from Saudi Arabia, meaning that Bin Salman will be left alone at staggering costs.

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