TAGGED UNDER: Economy & Finance

Nasser Saidi on the future for the Middle East

Raleigh Addington
Raleigh Addington
editor at Chartwell Speakers

At  Friday’s Breakfast Club at the RAC, Dr Nasser Saidi was fascinating on subjects ranging from the challenges facing those countries in the Middle East, be it those post-Arab Firestorm (he dislikes the term Arab Spring) nations or the Gulf states.

On the latter, he had some startling figures, relating to Saudi Arabia in particular: despite a huge proportion of the world’s oil, the country’s supply will run out by 2035, according to the IMF.

As he pointed out this means that the GCC countries, who may be wealthy now, will have to work out a long-term solution to a post-oil age, reducing their own energy consumption and encouraging economic diversification.