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The Effects Of Covid-19 On Oil-Producing Economies: A Consideration Of Nigerian And Saudi Arabian Vat Increases

Author

Listed:
  • ABDULAZIZ AHMADANI

    (North-West University, Potchefstroom, South Africa)

  • SUSANNA LEVINA MIDDELBERG

    (North-West University, Potchefstroom, South Africa)

  • MERWE OBERHOLZER

    (North-West University, Potchefstroom, South Africa)

  • PIETER BUYS

    (North-West University, Potchefstroom, South Africa)

Abstract

The COVID-19 pandemic is a multi-faceted crisis with global impact. Its impact on many economies, including those dependant on oil producing and exporting, may compel such governments to make far-reaching policy decisions. In this context, we briefly consider the economic considerations on two major global oil producers, Nigeria and Saudi Arabia, as they also struggle to come to grips with their own broader economic reforms – announced before and during the pandemic. Specifically, under consideration is the increase in both countries’ VAT rates at (perhaps) inopportune times. We argue that the burden of the VAT increase on businesses fighting for survival amidst outfall of the COVID-19 crisis will be counter-productive in attaining economic reform objectives.

Suggested Citation

  • Abdulaziz Ahmadani & Susanna Levina Middelberg & Merwe Oberholzer & Pieter Buys, 2021. "The Effects Of Covid-19 On Oil-Producing Economies: A Consideration Of Nigerian And Saudi Arabian Vat Increases," JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA, Babes-Bolyai University, Faculty of Business.
    • Handle: RePEc:bbn:journl:2021_4_1_ahmadani
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    File URL: https://tbs.ubbcluj.ro/RePEc/bbn/journl/Negotia_4_2021.pdf
    File Function: Revised version, 2021
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    More about this item

    Keywords

    COVID-19 economic impact; oil dependence; Nigeria; Saudi Arabia; value added tax;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems

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