Saudi Arabia extends coronavirus stimulus package but narrows scope

Saudi Arabia extends coronavirus stimulus package but narrows scope

The initiative, which was due to expire in October, will now continue until January and will support half of all Saudis working for companies impacted by the pandemic

Saudi Arabia has extended by three months a stimulus program to help businesses still struggling to recover from the effects of Covid-19 but has rolled back its scope.

It's the first test of how the Saudi economy will respond as support measures introduced at the height of the pandemic wind down.

The initiative, which was due to expire in October, will now continue until January and will support half of all Saudis working in an organization still affected by coronavirus, sectors including travel, sports and entertainment, the General Organisation for Social Insurance said in a statement on Tuesday.

The program originally covered 70 percent of Saudi