Davos 2023: Saudi Arabia changing no-strings aid, finance minister says

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Saudi Arabia's finance minister said on Wednesday the kingdom is changing the way it provides assistance to allies, shifting from previously giving direct grants and deposits unconditionally.

"We used to give direct grants and deposits without strings attached and we are changing that," Mohammed al-Jadaan said at the World Economic Forum in Davos, adding Saudi Arabia was encouraging countries in the region to make reforms.

"We need to see reforms. We are taxing our people, we are expecting also others to do the same, to do their efforts. We want to help but we want you also to do your part."Our Standards:

 

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Saudi thinks it has control over the world economy with oil. They are less than 1 trillion and USA is almost 30 trillion and also the largest oil producer. They seen how the feds slowed down the world economy when they did not want to open the oil taps.

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