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Saudi Essay Topics & Paper Examples

Imposing consumption tax on Saudi consumers and its contribution in promoting economic growth

Introduction Saudi economy mostly relies on oil industry and its government has much control over natural resources and main economic activities in the land.  Ultimately, the economy of Saudi is centrally planned and therefore has free market economy. As it can be affirmed, oil industry contributes to approximately 45% of the total budget revenue hence making it imperative to the growth of the country. Till now, Saudi Arabia does not think that there is any need for consumption tax however, the country may face many problems in the future what may affect the economy if the oil dry out.             A recent analysis from Citigroup has raised the alarming possibility that Saudi Arabia might become a net oil importer by…