Talking about economic recovery is premature .. and the risk of Core

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Al-Khulaifi said: “We see light at the end of the tunnel, yet we are still alert.”


Saudi Arabian Monetary Agency (Sama) Governor Ahmed Al-Khulaifi stressed that it is too early to talk about whether the economy of the largest oil-exporting country in the world will recover sharply.

He said in an interview with the US “Bloomberg” agency, that officials “believe in the flexibility of the Saudi economy,” noting that consumer spending data have witnessed a recovery since the kingdom’s economy was reopened in late May.

Al-Khulaifi added that there are still potential negative risks from the second wave of Corona virus or negative developments in the global economy.

“We see a light at the end of the tunnel, but we are still honest, we are still vigilant,” said SAMA governor, “Sama.”

Al-Khulaifi indicated that officials “do not see a significant change” in foreign currency reserves at the central bank in June, according to preliminary data.

“Reserve levels are still comfortable and can be supported by more positive signals coming from the oil market, which is what we are seeing now,” he said.

Al-Khulaifi explained that some foreign banks have delayed opening their doors in the Kingdom due to the Corona virus.

Governor of “Sama”: Talking about the economic recovery is premature .. And the risk of corona remains

Already

Saudi Arabian Monetary Agency (Sama) Governor Ahmed Al-Khulaifi stressed that it is too early to talk about whether the economy of the largest oil-exporting country in the world will recover sharply.

He said in an interview with the US “Bloomberg” agency, that officials “believe in the flexibility of the Saudi economy,” noting that consumer spending data have witnessed a recovery since the kingdom’s economy was reopened in late May.

Al-Khulaifi added that there are still potential negative risks from the second wave of Corona virus or negative developments in the global economy.

“We see a light at the end of the tunnel, but we are still honest, we are still vigilant,” said SAMA governor, “Sama.”

Al-Khulaifi indicated that officials “do not see a significant change” in foreign currency reserves at the central bank in June, according to preliminary data.

“Reserve levels are still comfortable and can be supported by more positive signals coming from the oil market, which is what we are seeing now,” he said.

Al-Khulaifi explained that some foreign banks have delayed opening their doors in the Kingdom due to the Corona virus.

July 07, 2020 – Dhu Al-Qi’dah 16, 1441

12:47 AM


Al-Khulaifi said: “We see light at the end of the tunnel, yet we are still alert.”

Saudi Arabian Monetary Agency (Sama) Governor Ahmed Al-Khulaifi stressed that it is too early to talk about whether the economy of the largest oil exporter in the world will recover sharply.

He said in an interview with the US “Bloomberg” agency, that officials “believe in the flexibility of the Saudi economy,” noting that consumer spending data have witnessed a recovery since the kingdom’s economy was reopened in late May.

Al-Khulaifi added that there are still potential negative risks from the second wave of Corona virus or negative developments in the global economy.

“We see a light at the end of the tunnel, but we are still honest, we are still vigilant,” said SAMA governor, “Sama.”

Al-Khulaifi indicated that officials “do not see a significant change” in foreign currency reserves at the central bank in June, according to preliminary data.

“Reserve levels are still comfortable and can be supported by more positive signals coming from the oil market, which is what we are seeing now,” he said.

Al-Khulaifi explained that some foreign banks have delayed opening their doors in the Kingdom due to the Corona virus.





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