IMF Urges KSA to Boost Welfare and Tackle Wage Bill

The video discusses Saudi Arabia's economic reforms, focusing on subsidy cuts and their impact on disposable income. It highlights the challenges of balancing short-term economic relief with long-term goals of reducing oil dependency. The discussion extends to inflation in the GCC region, emphasizing food inflation and its potential to cause social unrest. The video also explores oil price dynamics, considering OPEC's role and the implications of supply and demand imbalances.

What was one of the significant economic measures taken in Saudi Arabia in 2018?

• Introduction of a new currency

• Liberalization of prices

• Increase in oil production

• Reduction in VAT

What is a key goal of Saudi Arabia's long-term economic plans?

• Increase in oil exports

• Reduction in oil dependency

• Expansion of the tourism sector

• Development of new cities

What accounts for about 25% of the inflation basket in Saudi Arabia?

• Housing and energy costs

• Transportation and communication

• Food and beverages

• Healthcare and education

What percentage of food is imported in the GCC region?

• 75%

• 50%

• 60%

• 85%

What historical event is mentioned as being triggered by rising food prices?

• The Financial Crash

• The Gulf War

• The Arab Spring

• The Oil Crisis

What is a potential outcome if the OPEC deadlock continues?

• Higher oil prices

• Stability in oil prices

• Increase in oil production

• Decrease in oil prices

Which country has a significant portion of its oil supply capacity lying idle?

• Qatar

• UAE

• Kuwait

• Saudi Arabia