Examines problems of the Saudi Arabian economy especially in financing small and medium sized-enterprises (SMEs).
Written in 2008; 1,515 words; 4 sources; APA; $ 49.95
Paper Summary:
This paper explains that, although Saudi Arabia appears to be wealthy, the nation's economy is dependent upon a singular natural resource, oil. The paper points out that Saudi's declining oil revenue to population ratio is creating a budgetary deficit in which the state cannot invest enough in the private sector to employ its many out-of-work young people. The paper then explains that, to truly create a strong economy, small and medium sized-enterprises (SMEs) must become the backbone of the new Saudi economy. Thus, Saudi Arabia is attempting to create a business environment friendlier to SMEs.
From the Paper:
"The most obvious states suffering this 'rentier state' syndrome are those of the Middle East, including Saudi Arabia. The Middle East is rich in oil, and the world's near-universal dependence on this fossil fuel for economic survival has enriched many of the nations of this politically troubled region. But oil wealth has also served as what might be called a 'crutch' and actually impedes these nations' future development by providing a disincentive to innovate and to explore other industries."
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