Economist: All Signs Point to Worst Year Yet for Saudi Crown Prince Mohammed bin Salman Amidst Mounting Crises
According to the International Desk of Webangah News Agency, The Economist has published a report titled “Everything is Going for Mohammed bin Salman in the Worst Way; This Year is His Worst Year,” emphasizing that the Crown Prince of Saudi Arabia is confronting a series of crises, with multiple strategic calculations proving unsuccessful. The postponement of the investment summit, dubbed “Davos in the Desert,” following Yemeni missile and drone attacks on Riyadh and the closure of its airport, serves as an example of the difficult year ahead for bin Salman.
The report indicates that the 2022 ceasefire between Saudi Arabia and Yemen is no longer in effect. This situation leaves Saudi Arabia with two unfavorable options: continuing military operations or reaching a diplomatic agreement that would entail significant costs for Riyadh.
These developments also threaten Mohammed bin Salman’s economic diversification programs. These initiatives were already facing stagnation or slowdowns in projects, stagnant wages, and foreign investment far below the set targets. The International Monetary Fund is now forecasting an economic recession in Saudi Arabia instead of growth.
Saudi Arabia’s efforts to secure support from Donald Trump through substantial investments and trade agreements with his family have failed to prevent the escalation of the regional crisis.
