Oil, entitlement, & how MBS is changing Saudi Arabia
July 28, 2022
What is Crown Prince Mohammed bin Salman really doing to modernize Saudi Arabia? On GZERO World, Ian Bremmer asks Princeton University's Bernard Hayel.
MBS, as he's known in the West, is "basically banking on the bulk of the population that's under 30, [who think] he's a rock star because of the things he's doing."
Meanwhile, "anyone over 40 hates him because he's taking away entitlements" and changing the modus operandi of the country.
Haykel explains that the crown prince knows it's unsustainable for Saudi Arabia to continue relying exclusively on oil to grow.
They're still raking it in because prices are high, but MBS needs to get ahead of the curve by reforming subsidies and taxation.
Watch the GZERO World episode: Saudi Arabia’s repressive power politics
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