According to Freedom House news-website - a prominent Saudi opposition official webpage – The Kingdom of Saudi Arabia (KSA) is engulfed with myriad Mideast crises and is facing with increasingly dangerous developments in its surrounding countries which can undermine the oil-rich kingdom’s national security. Freedom House, for example, cited the French-based National Institute of Statistics and Economic Studies’ recent report about Saudi grim financial situation and prognosticated that Saudi Arabia will face an unprecedented financial recession and for the first time in KSA’s contemporary history, is grappling with negative economic growth and considerable government budget deficits which made the regime increase oil output and use its foreign exchange reserves. Although Saudi Arabia witnessed a shocking seven-fold increase in its military spending, Riyadh intends to allocate more $ 95 billion for joint military projects with United States and Britain.
Posted on: Wed, 12 Nov 2014 11:47:30 +0000
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