https://freerepublic.com/tag/saudieconomy/ en-us Sun, 8 May 2016 21:55:11 GMT Focus Forum 15 https://freerepublic.com/focus/f-news/3428775/posts Saudi Arabia's King Salman on Saturday replaced his veteran oil minister and restructured some big ministries in a major reshuffle apparently intended to support a wide-ranging economic reform programme unveiled last week. The most eye-catching move was the creation of a new Energy, Industry and Natural Resources Ministry under Khaled al-Falih, chairman of the state oil company Aramco. He replaces the 80-year-old oil minister Ali al-Naimi, in charge of energy policy at the world's biggest oil exporter since 1995. But major changes were also made to the economic leadership, with Majed al-Qusaibi named head of the new Commerce and Investment... Reuters https://freerepublic.com/focus/f-news/3428775/posts#comment Sun, 8 May 2016 21:55:11 GMT https://freerepublic.com/focus/f-news/3391089/posts Kingdom faces a future of higher taxes and low fuel subsidies amid fears the world's weakest oil producers will soon begin to buckle ___ Saudi Arabia faces years of tough austerity as the worst oil price crash in the modern history forces the kingdom to make radical cuts to government largesse, the International Monetary Fund has warned. The world's largest producer of crude oil will need to "transform" its economy away from oil revenues, which make up more than 80pc of the government's wealth, according to Masood Ahmed, head of the Middle East department at the IMF. The Saudi monarchy... Telegraph (UK) https://freerepublic.com/focus/f-news/3391089/posts#comment Sun, 31 Jan 2016 21:17:32 GMT