How did Saudi Arabia spare its economy and its citizens the dangerous consequences of Coron?

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It has put in place effective solutions to bring the effects of the crisis to a minimum


The new Corona virus losses are not limited to human losses, which are caused by more than 3 million and 476 thousand people being infected with it, robbed of life by about 244 thousand, or by disrupting the normal way of life for humans in more than 180 countries around the world. The virus has huge and widespread economic repercussions on Economies of nations. The Asian Development Bank (ADB) predicts that “the global cost of the Coruna epidemic will range between $ 2 and $ 4.1 trillion, which is equivalent to a loss of between 2.3 and 4.8 per cent of global GDP.”

These included the Saudi implications, like other countries; the Saudi economy was affected by the repercussions of the pandemic. Mohammed Al-Jadaan, the Minister of Finance, stated in an interview with Al-Arabiya channel yesterday (Saturday) that the “Corona” crisis has caused a decline in Saudi revenues, and it will have a significant impact on revenues during the rest of the year. Saudi Arabia, like other countries in the world, was not immune to The impact of the epidemic, but at the same time it has put in place effective solutions to reduce the effects of the crisis to the lowest level on its economy and its citizens; it has reduced the budgets of sectors such as (sports, entertainment, mandates, and employee travel), extended the implementation period of some projects, and in return raised the budget of the Ministry of Health to enhance its capabilities in Anti-virus.

Saudi Arabia was keen to protect its citizens from the impact of the “Corona” repercussions, and to prevent them from affecting their standard of living; it bore 60 percent of the salaries of Saudi employees in companies affected by the epidemic. More than 1.2 million Saudi workers have benefited from the decision.

Saudi Arabia also approved urgent initiatives to support the private sector, especially small and medium enterprises, and economic activities most affected by the consequences of the pandemic, the size of initiatives amounting to 70 billion riyals, in addition to the support program announced by the Saudi Arabian Monetary Agency for banks and financial institutions and small and medium enterprises at an amount of 50 billion Real at the current stage.

In spite of its low revenues, Saudi Arabia succeeded in forming an umbrella to protect its economy and its citizens; its economy was not affected by deflation like the economies of China, Britain, Germany and other countries, which the epidemic hit its economic sectors, and its working citizens did not lose their jobs as happened in dozens of countries. In the United States of America, more than 30.3 million Americans have lost their jobs in the past six weeks alone, and their numbers are still increasing.

Saudi Arabia’s success in both tracks demonstrates that the measures it took to reduce expenditures did not affect the standard of living of its citizens, or the vital sectors of public life.
Saudi economy
New Corona Virus

How did Saudi Arabia spare its economy and its citizens the dangerous consequences of Corona?

Already

The new Corona virus losses are not limited to human losses, which are caused by more than 3 million and 476 thousand people being infected with it, robbed of life by about 244 thousand, or by disrupting the normal way of life for humans in more than 180 countries around the world. The virus has huge and widespread economic repercussions on Economies of nations. The Asian Development Bank (ADB) predicts that “the global cost of the Coruna epidemic will range between $ 2 and $ 4.1 trillion, which is equivalent to a loss of between 2.3 and 4.8 per cent of global GDP.”

These included the Saudi implications, like other countries; the Saudi economy was affected by the repercussions of the pandemic. Mohammed Al-Jadaan, the Minister of Finance, stated in an interview with Al-Arabiya channel yesterday (Saturday) that the “Corona” crisis has caused a decline in Saudi revenues, and it will have a significant impact on revenues during the rest of the year. Saudi Arabia, like other countries in the world, was not immune to The impact of the epidemic, but at the same time it has put in place effective solutions to reduce the effects of the crisis to the lowest level on its economy and its citizens; it has reduced the budgets of sectors such as (sports, entertainment, mandates, and employee travel), extended the implementation period of some projects, and in return raised the budget of the Ministry of Health to enhance its capabilities in Anti-virus.

Saudi Arabia was keen to protect its citizens from the impact of the “Corona” repercussions, and to prevent them from affecting their standard of living; it bore 60 percent of the salaries of Saudi employees in companies affected by the epidemic. More than 1.2 million Saudi workers have benefited from the decision.

Saudi Arabia also approved urgent initiatives to support the private sector, especially small and medium enterprises, and economic activities most affected by the consequences of the pandemic, the size of initiatives amounting to 70 billion riyals, in addition to the support program announced by the Saudi Arabian Monetary Agency for banks and financial institutions and small and medium enterprises at an amount of 50 billion Real at the current stage.

In spite of its low revenues, Saudi Arabia succeeded in forming an umbrella to protect its economy and its citizens; its economy was not affected by deflation like the economies of China, Britain, Germany and other countries, which the epidemic hit its economic sectors, and its working citizens did not lose their jobs as happened in dozens of countries. In the United States of America, more than 30.3 million Americans have lost their jobs in the past six weeks alone, and their numbers are still increasing.

Saudi Arabia’s success in both tracks demonstrates that the measures it took to reduce expenditures did not affect the standard of living of its citizens, or the vital sectors of public life.

May 03, 2020 – Ramadan 10, 1441

12:42 AM


It has put in place effective solutions to bring the effects of the crisis to a minimum

The new Corona virus losses are not limited to human losses, which are caused by more than 3 million and 476 thousand people being infected with it, robbed of life by about 244 thousand, or by disrupting the normal way of life for humans in more than 180 countries around the world. The virus has huge and widespread economic repercussions on Economies of nations. The Asian Development Bank (ADB) predicts that “the global cost of the Coruna epidemic will range between $ 2 and $ 4.1 trillion, which is equivalent to a loss of between 2.3 and 4.8 per cent of global GDP.”

These included the Saudi implications, like other countries; the Saudi economy was affected by the repercussions of the pandemic. Mohammed Al-Jadaan, the Minister of Finance, stated in an interview with Al-Arabiya channel yesterday (Saturday) that the “Corona” crisis has caused a decline in Saudi revenues, and it will have a significant impact on revenues during the rest of the year. Saudi Arabia, like other countries in the world, was not immune to The impact of the epidemic, but at the same time it has put in place effective solutions to reduce the effects of the crisis to the lowest level on its economy and its citizens; it has reduced the budgets of sectors such as (sports, entertainment, mandates, and employee travel), extended the implementation period of some projects, and in return raised the budget of the Ministry of Health to enhance its capabilities in Anti-virus.

Saudi Arabia was keen to protect its citizens from the impact of the “Corona” repercussions, and to prevent them from affecting their standard of living; it bore 60 percent of the salaries of Saudi employees in companies affected by the epidemic. More than 1.2 million Saudi workers have benefited from the decision.

Saudi Arabia also approved urgent initiatives to support the private sector, especially small and medium enterprises, and economic activities most affected by the consequences of the pandemic, the size of initiatives amounting to 70 billion riyals, in addition to the support program announced by the Saudi Arabian Monetary Agency for banks and financial institutions and small and medium enterprises at an amount of 50 billion Real at the current stage.

In spite of its low revenues, Saudi Arabia succeeded in forming an umbrella to protect its economy and its citizens; its economy was not affected by deflation like the economies of China, Britain, Germany and other countries, whose epidemic hit its economic sectors, and its working citizens did not lose their jobs as happened in dozens of countries. In the United States of America, more than 30.3 million Americans have lost their jobs in the past six weeks alone, and their numbers are still increasing.

Saudi Arabia’s success in both tracks demonstrates that the measures it took to reduce expenditures did not affect the standard of living of its citizens, or the vital sectors of public life.

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