Saudi Arabia warned on oil strategy by financial crash economist Nouriel Roubini | The National

Saudi Arabia warned on oil strategy by financial crash economist Nouriel Roubini | The National:

"Saudi Arabia must stop acting as though the oil price decline is temporary, says Nouriel Roubini, the NYU economist credited with predicting the 2008 financial crisis.

“If you look at Saudi Arabia’s response to the low oil price, they’ve reacted to this shock as if it’s temporary rather than permanent,” Mr Roubini said, on the sidelines of the Arab Strategy Forum in Dubai on Tuesday.

“The main lesson is that this shock is permanent, it’s not transitory, therefore you have to adjust to it rather than just financing it.”"



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