The Saudi Minister of Finance revealed in an interview with "Al-Mukhtasar News" that the value of the economic support packages approved so far in Saudi Arabia amounted to 180 billion riyals, which constitutes 8% of the non-oil GDP, in order to help the private sector to face the effects of the Corona pandemic.
In a related context, Al-Jadaan indicated that the government is taking measures to reduce expenditures with a strong decline in revenues, and that a strong decline in revenue is expected to continue until the next fiscal year, but he stressed the recommendations of the rational leadership that provide support packages to protect the jobs of citizens, and support for companies, It guarantees that the Saudi citizen is a priority in future plans.
He spoke in that context that "Saudi Arabia has not faced such a crisis for decades, it is necessary to reduce expenditures and direct part of it to health care, the government is considering many options and steps taken to curb expenditures are not enough."
According to al-Jadaan, the government of Saudi Arabia decided to borrow more from international markets, but that alone is not enough, and the government should look at the list of expenditures in the budget and provide the least harm to citizens.
Al-Jadaan showed that some projects will be extended by their nature amid precautionary measures to confront Corona, in addition to that some expenses such as those related to travel and assignments will decrease naturally.
Al-Jadaan added, "We will raise recommendations soon regarding the expenditures that must be reconsidered. The sustainability of public finances requires strict measures that may be painful. Until now it is difficult to predict the duration of the pandemic and it must be prepared well."