PNN – The Wall Street Journal has reported on Saudi Arabia’s dire economic situation, citing the country’s budget deficit and the costs associated with its warmongering against Yemen.
According to the report of Pakistan News Network; The Wall Street Journal revealed that the rising costs of Saudi Arabia’s military campaign have exacerbated the country’s budget deficit and pushed Riyadh toward an economic recession.
The report notes that the ongoing war against Yemen has jeopardized Saudi efforts to boost tourism—a key pillar of the nation’s economy. The repercussions of this crisis extend beyond Saudi borders, given the country’s role as a major source of financial backing for global technology.
The Wall Street Journal added that military pressure on Saudi Arabia has intensified as parts of the capital have turned into a battlefield.
According to the report, Saudi officials revealed that the country’s stockpile of interceptor missiles is running low, leaving it ill-equipped to counter further attacks. Foreign investment also declined during the first and second quarters of the year, falling short of projections. Additionally, a number of Mohammed bin Salman’s projects have been halted, and Riyadh has abandoned plans to host the 2029 Asian Winter Games.
The Wall Street Journal emphasized that Saudi Arabia cannot provide air defense coverage for its entire territory and has been forced to prioritize protecting palaces and energy facilities. Bin Salman has also instructed his advisors to keep political communication channels with Iran open. Additionally, reports indicate that he moves between heavily guarded palaces equipped with bunkers, and the security personnel responsible for protecting these sites have been carefully selected.