Unemployment rate for Saudis to decline on gradual economic recovery in H2 2020, says ministry

The private investment indicators showed that economic activity started to resume remarkably in Q3 2020. (File/AFP)
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Updated 16 December 2020
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Unemployment rate for Saudis to decline on gradual economic recovery in H2 2020, says ministry

  • Performance indicators in Q3 2020 reflected a significant recovery in economic activity

The Saudi Ministry of Finance expects employment rates to normalize and the unemployment rate among Saudi citizens to fall amid expectations for gradual economic recovery in H2 2020 and early 2021.

Performance indicators in Q3 2020 reflected a significant recovery in economic activity, as the enterprise sector and consumers started to regain confidence.

Moreover, the private investment indicators showed that economic activity started to resume remarkably in Q3 2020, the ministry added.

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Saudi, Pakistan defense chiefs discuss ‘measures needed to halt’ Iranian attacks on Kingdom

Updated 07 March 2026
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Saudi, Pakistan defense chiefs discuss ‘measures needed to halt’ Iranian attacks on Kingdom

RIYADH: Saudi Defense Minister Prince Khalid bin Salman and Pakistan’s  Chief of Defense Forces Asim Munir discussed Iran’s attacks on the Kingdom, amid the escalating military conflict in the Middle East. 

“We discussed Iranian attacks on the Kingdom and the measures needed to halt them within the framework of our Joint Strategic Defense Agreement,” Prince Khalid wrote on social media early on Saturday.

“We stressed that such actions undermine regional security and stability and expressed hope that the Iranian side will exercise wisdom and avoid miscalculation.”

The US and Israel began a large-scale military campaign against Iran on Feb. 28. Iran has since attacked a number of sites across the Gulf.

Tehran has also attacked US and Israeli military assets as the war as escalated, impacting lives in the peaceful Arabian Gulf peninsula and risked shaking the global economy as Iran continued restricting energy shipping along the Strait of Hormuz.

The Saudi Defense Ministry said a number of drones had been shot down that were targeting the Shayba oil field in the Empty Quarter on Saturday.

A drone attacked the US embassy in Riyadh on Tuesday causing a minor fire, but no one was hurt in the incident.

Saudi Arabia and Pakistan signed a “Strategic Mutual Defense Agreement”  in September, pledging that aggression against one country would be treated as an attack on both.

Separately, Prince Abdulaziz bin Saud bin Naif, the Saudi interior minister, received a call from his Pakistani counterpart Raza Naqvi, who condemned the blatant attacks targeting the Kingdom and affirmed his country’s solidarity in confronting any threats to the Kingdom’s security and stability, the Saudi Press Agency reported on Saturday.