RIYADH: Saudi Arabia is to cut SAR50 billion ($13.32 billion) from this year’s budget in light of the negative impact of the coronavirus pandemic on public finances in the Kingdom.
The cut is worth less than 5 percent of the 2020 budget and will be in areas that have the least social and economic impact, Finance Minister Mohammed Al-Jadaan said on Wednesday.
“The government took measures to curb the impact of the oil price drop and will take additional measures to deal with the expected price decrease,” he said.
The finance minister said the Kingdom has huge financial reserves and assets that will enable it to deal with the challenges resulting from the coronavirus outbreak and maintain sustainability and stability in the medium and long run.
Al-Jadaan also said that given the potential impacts of the coronavirus outbreak, “developments will be reassessed, items of expenditures will be reviewed and appropriate decisions will be made in a timely manner.”
Saudi Arabia to cut 5% of 2020 budget to fight effects of coronavirus pandemic
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Saudi Arabia to cut 5% of 2020 budget to fight effects of coronavirus pandemic
- The cut is worth less than 5 percent of the 2020 budget
- It will be in areas that have the least social and economic impact
Saudi Arabia condemns terrorist attacks in Pakistan’s Balochistan province
RIYADH: Saudi Arabia on Saturday strongly condemned a series of terrorist attacks carried out by separatists in various areas of Pakistan’s Balochistan province, the Saudi Press Agency reported.
In a statement, the Kingdom’s Ministry of Foreign Affairs reaffirmed Saudi Arabia’s firm rejection of all forms of terrorism and extremism, and expressed its solidarity with Pakistan and its security efforts to safeguard the country’s stability.
The ministry conveyed the Kingdom’s condolences to the families of the victims, as well as to the government and people of Pakistan, and wished a speedy recovery to those injured.
Saudi Arabia reiterated its support for Pakistan in confronting threats to its security and maintaining the safety of its territory.
