Prince Mohammed, Saudi Arabia’s de facto ruler, has upended his country out of a recognition that the kingdom could not keep living off oil forever. FILE - A near-empty street near the Al Rahma mosque in Jeddah, Saudi Arabia during Ramadan, April 24, 2020. Saudi Aramco, the state oil company, said Tuesday that its first-quarter profits had fallen by 25% compared with last year. By tripling the tax, Saudi Arabia is accelerating the shift away from a welfare state, argued Ali Shihabi, a Saudi commentator. Saudi Arabia has not hesitated to spend heavily on benefits when needed to shore up domestic support and to use force to squelch dissent.

Source: bd News24 May 16, 2020 21:00 UTC