According to the New York Times report, the major reason for this is the decline in Saudi Arabia’s earnings from oil. In fact, Saudi Arabia, the world’s largest oil exporting country, was in a budget surplus of $ 28 billion in the year 2022 and this was because of the huge increase in oil prices after the Ukraine war. Even after earning this, Saudi Arabia is being strict with debt-seeking countries like Egypt, Pakistan and Lebanon. Saudi Arabia is still sending money abroad but it is now aimed at international investment for profit. Apart from this, industries like electric vehicles have to be given impetus in our country.
Prince taking Saudi Arabia on the way to UAE
Saudi Arabia’s Finance Minister Mohammad Al Jadan said in Davos in January, ‘Earlier we used to give direct aid and deposit money with no conditions. We are changing that now. We are working with multilateral institutions and say that we have to see reforms. After this change, a war of words started between Saudi and Egyptian experts. Egypt is heavily dependent on money from Saudi Arabia and the UAE. After this the officials of both the countries tried to resolve the matter but it is not going to change.
Poor Pakistan, Munir’s army is rich, business of 100 billion dollars
The Saudi prince has tried to reduce the country’s dependence on oil since his father took over. Now he wants to make the Islamic country associated with this tradition a stronghold of business and culture. He is now trying to implement the model of his fellow Arab countries like UAE and Qatar in his country. With this, he also wants to increase his international influence. The Gulf countries currently have a lot of money and have just announced an aid of $5 billion to Turkey.
Saudi called Shahbaz Sharif and Nawaz Sharif
This has increased Saudi’s influence in Turkey, which is its staunch opponent. Mohammed bin Salman is now following the policy of Saudi First and promoting nationalism in the country. Due to this change of Saudi, the difficulties of countries like Pakistan have increased and it is unable to get loan from IMF. IMF has now sought guarantees from Saudi and UAE before giving loans. Pakistan is on the verge of default and now Saudi Prince has called Pakistan Prime Minister Shahbaz Sharif and his brother Nawaz Sharif on the pretext of Umrah.