The debt surge: How Saudi borrowing outran its boom
This episode examines Saudi Arabia's growing public debt crisis, set against a fictional 2026 scenario where a US-Israeli war with Iran and the closure of the Strait of Hormuz drastically reduce Saudi oil exports.
The show contrasts the government's projected 2026 budget deficit of 165 billion rials with actual first-quarter figures showing a 125 billion rial shortfall, then places this in a broader ten-year context: Saudi public debt has multiplied twelvefold since 2015 (from 37 billion to 440 billion), far outpacing both global debt growth and the Kingdom's own GDP increase.
While not predicting economic collapse, the episode explores whether rising debt threatens Saudi Arabia's regional influence, undermines Vision 2030, and makes the economy dangerously dependent on borrowing—especially amid intensifying competition with the UAE.
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