The Saudi Minister of Finance: Borrowing SR 220 Billion and Decreasing the Overall Expenditures
The Saudi minister of finance, Mohammed Al-Jadaan, has declared in an interview with “al Arabiya” that Saudi Arabia had spent more than SR 180 Billion to face the pandemic of coronavirus.
Saudi Arabia is going through a wide range of options to deal with the pandemic, but the government of Saudi is assured of choosing the least damaging option for its citizens. He stated: “some of the procedures will be quite hurtful, but for the overall social benefit.” Also, he mentioned that the number one file is to protect the citizens as could as possible and in maintaining their jobs in the privet sector.
The Saudi minister of finance will replace its strategies to decrease the expenditures and make an allotment for the health sector as a result of COVID-19. He added: “the corona crisis is like no other since the world war II, and we should be ready for that to minimize the loss.” As a result, the ministry of finance is entending to borrow SR 220 billion during this time.
The economy of Saudi and the rest of the world will reframe after the pandemic, and new standards and norms will be set on.
