Why the IMF is wrong about Saudi Arabia needing $85 oil:
Once again, the International Monetary Fund has made outlandish and inaccurate claims that Saudi Arabia needs—absolutely NEEDS—to push the price of oil higher to fund its government. This time, the IMF claims Saudi Arabia needs the price of Brent to be at least . The problem with this claim is that it inaccurately implies that Saudi Arabia must work to achieve higher oil prices.
when it claimed that Saudi Arabia needed $70 per barrel oil to balance its budget. Among the misunderstandings underlying the IMF calculations, I highlighted that: The 2017 IMF forecast seemed to ignore the tax rate on AramcoThe Saudi government is trying to spend less on welfare expensesThere is nothing wrong with Saudi Arabia running a deficit, especially while interest rates are relatively low
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