Budget Problems of Saudi Arabia: Consequences in the Sphere of Security and Regional Policy

• Authors: Maciej Münnich

Abstracts

EN

The article presents an analysis of the Fiscal Balance Program, which has been implemented in Saudi Arabia since the beginning of 2017. The text discusses budget data from recent years and budget assumptions for 2018, and then assesses the extent to which they have a chance of implementation. The second part of the article describes political threats. The conclusion of the article emphasized that economic assumptions are difficult to achieve, but possible, however, one should take into account the delay in their implementation. The real challenge for implementing the plan to heal the finances of the state will be the inevitably impending moment of change on the throne, when internal problems can lead to uncontrolled changes, and external competitors may try to take advantage of this crucial moment.

Keywords

EN

Saudi Arabia; Fiscal Balance Program; Vision 2030; Middle East

• Publisher: European Association for Security
• Journal: Securitologia
• Year: 2018
• Issue: 2 (28)
• Pages: 27-56

Dates

published

2018

Contributors

author

Maciej Münnich

• The John Paul II Catholic University of Lublin

References

• Al Arabiya News (2015), Saudi Arabia unvails 2016 budget, Al Arabiya Network, http://english.alarabiya.net/en/special-reports/saudi-budget-2016/2015/12/28/Saudi-Arabia-to-unveil-2016-budget.html [05.02.2018]
• Al Murshidi Gh. (2014), Emirati and Saudi Students’ Writing Challenges at U.S. Universities, “English Language Teaching” No. 7
• Alharbi H.A. (2015), Improving Students’ English Speaking Proficiency in Saudi Public Schools, “International Journal of Instruction” No. 8
• Alsahafi N., Shin S.-Ch. (2017), Factors affecting the academic and cultural adjustment of Saudi international students in Australian universities, “Journal of International Stu-dents” No. 7
• Bar’el Z. (2017), Jordan Denies King’s Brothers Ousted from Army over Ties with Saudi Arabia, “Haaretz” December 30, https://www.haaretz.com/middle-east-news/jordan/jordan-denies-king-s-brothers-ousted-from-army-over-saudi-ties-1.5629999 [09.02.2018]
• Brennan D. (2018), Where’s Mohammed bin Salman? Not Dead, according to Saudi Arabia, “Newsweek” May 31, https://www.newsweek.com/wheres-mohammed-bin-salman-not-dead-according-saudi-arabia-950996 [19.07.2018]
• Center for International Communication (2018), Statement by the Attorney General, the Kingdom of Saudi Arabia, https://cic.org.sa/2018/01/statement-by-the-attorney-generalthe-kingdom-of-saudi-arabia/ [03.02.2018]
• Fiscal Balance Program 2020 (2016), Kingdom of Saudi Arabia, http://vision2030. gov.sa/sites/default/files/attachments/BB2020_EN.pdf [03.02.2018]
• Fiscal Balance Program. 2018 Update (2017), Kingdom of Saudi Arabia, https://www.mof.gov.sa/en/budget/Documents/Fiscal%20Balance%20Program%202018%20 update.pdf [05.02.2018]
• General Authority for Statistics (2016), Statistical Yearbook of 2016, Issue Number: 52, Kingdom of Saudi Arabia, https://www.stats.gov.sa/en/169 [03.02.2018]
• General Authority for Statistics (2017), Statistical Yearbook of 2017, Issue Number: 52, Kingdom of Saudi Arabia, https://www.stats.gov.sa/en/193 [19.07.2018]
• Hayward J. (2017), Report: King Abdullah of Jordan Relieves Brothers of Military Command, “Breitbart” December 29, http://www.breitbart.com/national-security/2017/12/29/king-jordan-relieves-brothers-military-command-amid-rumors-saudi-coup-plot/ [09.03.2018]
• House K.E. (2012), On Saudi Arabia: Its People, past, Religion, Fault Lines and Future, New York–Toronto, Knopf
• Jacobs P. (2017), Saudi Arabia is asking some royals and buisnessmen cought up in corruption crackdown to pay 70% of their wealth in return for their freedom, http://www.businessinsider.com/saudi-arabia-corruption-crackdown-billions-of-dollars-2017-11?IR=T [03.02.2018]
• Miles H. (2015), Saudi royal calls for regime change in Riyadh, “The Guardian” September 28, https://www.theguardian.com/world/2015/sep/28/saudi-royal-calls-regimechange-letters-leadership-king-salman [09.02.2018]
• Ministry of Finance (2017a), Budget 2017. Kingdom of Saudi Arabia, https://www.mof. gov.sa/en/docslibrary/Budget/Documents/2017.pdf [05.02.2018]
• Ministry of Finance (2017b), Budget Statement. Fiscal Year 2018, https://www.mof.gov.sa/en/budget/Documents/171228%20%20budget%20Statement%20eng%20Single.pdf [05.02.2018].
• Ministry of Finance (2018), Quarterly Budget Performance Report. Q1 of Fiscal Year 2018 (1439 / 1440 H), https://www.mof.gov.sa/en/financialreport/2018/Documents/2018_Q1_E_Finaincial%20Report.pdf [19.07.2018]
• National Transformation Program 2020 (2016), Kingdom of Saudi Arabia, https://vision2030.gov.sa/en/programs/NTP [03.02.2018]
• Trading Economics (a.), Saudi Arabia Crude Oil Production, https://tradingeconomics.com/saudi-arabia/crude-oil-production [19.07.2018]
• Trading Economics (b.), Saudi Arabia Government Debt to GDP, https://tradingeconomics. com/saudi-arabia/government-debt-to-gdp [19.07.2018]
• Saudi Arabian Monetary Authority (2017), Monthly Statistical Bulletin of Saudi Arabian Monetary Authority. December 2017, http://www.sama.gov.sa/en-US/EconomicReports/MonthlyStatistics/monthly%20bulletin%20dec%202017.pdf [03.02.2018]
• Saudi prince Mansour killed in helicopter crash near Yemen border (2017), “Middle East Eye” November 5, http://www.middleeasteye.net/news/saudi-prince-killed-helicoptercrash-near-yemen-border-state-tv-2098807199 [09.02.2018]
• SIPRI (2018a), Military expenditure by country, in constant (2016) US$ m., 2009-2017, https://www.sipri.org/sites/default/files/1_Data%20for%20all%20countries%20from%201988%E2%80%932017%20in%20constant%20%282016%29%20USD.pdf [19.07.2018]
• SIPRI (2018b), Military expenditure by country as percentage of gross domestic product, 2003-2016, https://www.sipri.org/sites/default/files/Milex-share-of-GDP.pdf [03.02.2018]
• SIPRI (2018c), Military expenditure by country as percentage of gross domestic product, 2003-2017, https://www.sipri.org/sites/default/files/3_Data%20for%20all%20countries%20from%201988%E2%80%932017%20as%20a%20share%20of%20GDP.pdf [19.07.2018]
• Torchia A. (2017), The mysterious (and continuing) fall in Saudi foreign reserves, “Reuters” June 27, https://uk.reuters.com/article/uk-saudi-economy-reserves-analysis/the-mysterious-fall-in-saudi-foreign-reserves-idUKKBN19I17R [03.02.2018]
• Vision 2030 (2016), Kingdom of Saudi Arabia, http://vision2030.gov.sa/download/ file/fid/417 [03.02.2018]

Identifiers

DOI

10.4467/24497436SCU.18.013.11256

Biblioteka Nauki

2056056