Huge Saudi Debt Expected To Increase Further

Middle East Newsline.com ^ | 01/07/02 | Staff Writer

[veronica]

Saudi Arabia's huge debt is expected to increase over the next year.

Gulf analysts said stagnating oil prices will make the kingdom one of the biggest debtor nations in the world. Riyad is expected to owe more than $200 billion by the end of 2002.

Already, the analysts said, Saudi Arabia owes $203 billion. The kingdom is expected to borrow another $12 billion during 2002.

A study by Saudi economist Ihsan Bu Hlaika said the kingdom turned into a debtor from the oil prices that first stabilized and then dropped during the 1980s. Hlaika said the kingdom has repaid only a small part of its domestic debt.

The study said Riyad is expected to record a $6.6 billion budget deficit for 2001. Saudi officials have maintained that the kingdom will not record a deficit for last year.

[veronica]

Bump.

[CarryaBigStick]

Not this time around. I think that we reached an accord with the Russians, realizing we we mutually had a larger problem with the Saudis, and declared economic war with Russian oil. I think Russia will benefit in the long run.

[Alouette]

if (and only if), the children of the Haredi begin to break with them and become secular (not to be confused with nonreligious) zionists, as they grow up, they are doing Israel a huge favor. Given that many of the Haredi reside on the settlements, I can't figure out for the life of me why they don't teach and promote zionism

The Haredim are the only Jews who have a birthrate to equal the Arabs. You want this to stop?

Oh, and, BTW Haredim is a very broad term and includes Zionists and non-Zionists. I am pro-Zionist but I have relatives who are Neturei Karta.

[Stultis]

Great article!

[imperator2]

The hydrogen car is coming. VROOOOM!

[College Repub]

I know it's very broad, but in terms of the groups with political clout in the Knesset, Shas and UTJ (90% sure on UTJ) are nonzionist.

[Alouette]

Shas and UTJ (90% sure on UTJ) are nonzionist.

How do you define nonzionist? A Jew who does not say hallel on yom ha'azmaut (what the Arabs call "naqba")? My Neturei Karta cousins are nonzionist but they call me a tziyoinee.

Are you aware that all Shas MK's have served in the IDF, many of them in elite combat units? (A reporter from one of the secular papers was going to do an expose by looking up all the Shas MK's service records and this is what he found.)

[TwoStep]

**Bump**

[desertcry]

Apparently the saudis have found a way to reduce their population, they are turning their young into suicide bombers, and terrorists. AKA osama's population control.

[College Repub]

Most current SHAS do not serve. They don't teach zionism in the shas Yeshivas. Sahs exploits labor and likud by demanding money for thier yeshivas of which the Israeli Governemnt has no monitoring/authority over. And they don't produce anything for Israels economy. I have no problem with them as a religious institution, but rather as political party. Here's an interesting site. A bit dated, but interesting. Lots of links at the bottom http://info.jpost.com/1999/Supplements/Elections99/politicalblocs/thirdway.shtml

[Roy Tucker]

According to the Wahabbi interpretation of the Koran, interest is forbidden, so it should be fairly easy for them to find justification on defaulting. How they justify not paying back the principal is another matter.

[Roy Tucker]

With the US dollar continuing to deflate, it is a bad time to be a borrower. Probably worthwhile for Freepers to note in their personal lives as well.

[Chemnitz]

The story posted proves that entitlements ruin rich kids as well as welfare kids. Saudi royalty - a good argument for birth control.

The article failed to mention that many of the royals have heart problems inherited from the orginal (generous) DNA donor. So they rotate through the Cleveland Clinic for heart surgery. The royals take over whole floors and have menacing guards as extra security. I thought one would shoot me.

[Alouette]

I have no problem with them as a religious institution, but rather as political party.

It might surprise you to learn that a lot of Haredi Jews are not Shas or UTJ supporters. Everyone I know favors the Likud, just like most in the U.S. tend to vote republican. I don't live in New York, but I was disgusted that New Square all voted for Hitlery. All my relatives in NY voted for Rick Lazio, and my relatives in Israel (except for the ones in Neturei Karta who don't bother to vote) vote for the Likud.

[Alouette]

And they don't produce anything for Israels economy.

I forgot to add these links:

What the Haredim contribute to the Israeli economy. (From Yated Ne'eman)

God's workers Ultra-Orthodox Jews make their way into the world of high tech From a secular industry journal.

[College Repub]

They voted for Hillary because she secretly fed them money for their yeshivas. Are you aware of what's tought in these ultra orthodox schools? In many of them, the only zionism that is tought is the idea of zionism after the Messiah comes. Not that it is important for the Jews to own and defend Israel now.

[College Repub]

I'll check them out. YOu do realize, though, that were it not for the constant threat Israel faces from the palestinians and all the hostile arab regimes around it, it'd be in a state of civil war (domesticaly and culturaly speaking) between Haredi and secular, right? I guess I never made my views on this clear in Isreali threads before. If I lived in Isarel, I'd be a secular member of Likud strongly fiscaly conservative.

[Alouette]

Are you aware of what's tought in these ultra orthodox schools?

My family has been involved in chinuch for many years. I'm perfectly aware of what is taught in the schools my children have attended and where some of them now teach. They are taught that the Land of Israel belongs to the Jews and that defending the Holy Land is a noble ideal.

Truepeace.org is a site that explains the obligation to protect the Holy Land.

[College Repub]

...belongs to the Jews...NOW?? Or at the coming of the messiah? Most of the Haredi resent the fact that Israel is governed by seculars and the ones that are zionistic believe that the secular running of Israel is only a temporary era until they can overtake them demographicaly.