Saudi Prince’s Trillion-Dollar Makeover Faces Funding Cutbacks, Neom to Get Less Funding
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- เผยแพร่เมื่อ 10 ก.ค. 2024
- Saudi Arabia is likely to cut billions of dollars in spending on some of its biggest development projects, and place other plans on hold, as the kingdom grapples with the scale of its vast economic makeover. The sprawling desert development known as Neom is expected to be allocated 20% less than its targeted budget for this year, according to people familiar with the matter. Standard Chartered's Carla Slim speaks with Bloomberg's Joumanna Bercetche.
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wow the clearly unsustainable lavish spending is proving to be unsustainable no one could have ever seen this coming :OOOO
Remember the amazing visionary stating that “Saudi Arabia will be the new Europe”!😂
@@akbarca They are currently where Europe was 200 years ago. So that's what they meant, probably?
Stop hating
Future of every extravagant empire is written in Rumble. History repeats itself.
On wrong video buddy
We need more KSA coverage thanks Bloomberg
For example, another development project within NEOM that transforms an island in the Red Sea into a luxury tourist destination known as Sindala is scheduled to open this year.
Officials have long said that The Line would be built in phases, and they expected it would eventually cover an area of 170 kilometers along the coast.
America is so far gone. I feel sorry for Murca
Joke
It is funny to see a lot of project lead in Saudi Arabia working on these mega projects are Europeans or Americans, yet none of them educate the Saudis that the projects is not feasible. Saudis and other middle eastern companies do not understand that instead of making cities, they should focus on building industries.
European and Americans go there for big bucks, they don’t care what is it and what will happen after the projects are done, they only care about what they can do with the money back home.
they've been doing that too, look at their SWF portfolios.
@@aldinoruswandihow can I look at there swf profile and what does swf stand for
They only care about money and what industries
forget about industries they do not respect individual thinking and do not pay proper wages to employees
Sugar coating a big issue
Why don't these Expensive Advisors tell their Rulers, what is possible and what is dreaming.
Because they can charge a lot of money for these dreams, and the rulers don't want to hear a no anyway.
Some get strong
Some get strange
sooner or later it all gets real, walk on….
inflation up how many percent? All the materials and labour costs are up. No major surprise there.
Saudi Arabia is going to be an economic giant in the near future, but they should be aware not spending too much money in projects.
LOL
The Saudis don't have the workforce to become an economic giant.
It’s got the most unproductive citizens because they have outsourced ALL work to expats. Now suddenly they will become productive? Keep dreaming.
Sell bonds, inflation goes up liquidity for short term project, rates go up as more people want better rates for bond, debt quality goes down, sell more oil to cover the debt payments, oil prices goes down.
But according to recent data, officials expect to complete 2.4 kilometers of the project by 2030, said the person familiar with the matter, who requested anonymity because the information is not available to the public.
This shows Saudi is constantly assessing and adjusting. This is actually good.
Ahahahhaha😂
Work is certainly continuing on other parts of the broader NEOM project; Officials have maintained their overall goals for The Line, the people familiar with the matter said.
The only challenge is in The Line project but other projects or going fine.
Yet!
It's up to minister of management in saudi if they allowed me and accepted my offer. I enterested to give investment here in saud and if they like I want half or all i funds all their projects.. just ask and send in the head of federation or atty Powell..
I do this bcz of milion workers and I want also Foster finish all the projects here. I going home in 2025 my be Jan or fed saudi . So if you are enterested money we send to you. Its up to minister they management all you need in projects. If need shipping ask to federation also they will help you. On September po saudian para may prepare po ahh mag submit na po kayo kasi after sep. Next yr na po dina lahat nang country they can make local currency okay so do it now..
I am from the Saudi government, please share your nationality and expected investment size, before I can connect you to the right people.
All those who comment didn't understand the fact that Saudi is issue bonds and borrowing money to GROW non oil GDP is rising!
Which is a good thing or a bad thing?
Saudi Arabia is the future 🇸🇦🫡
No such thing as Overachiever ❤️🇸🇦🇨🇳🦾😇