Saudi Arabia will not wind down stimulus measures ‘prematurely’, central bank governor says

SourceThe National
SectorEconomy
CountrySaudi Arabia

Saudi Arabia will not wind down stimulus measures taken to minimise Covid-19's impact on its economy until it sees positive growth, its central bank governor said. The regulator has “renewed many of these programmes recently” and will continue to support the kingdom’s economy, Fahad Al Mubarak told an online event on the sidelines of the International Monetary Fund and the World Bank's annual spring meeting on Tuesday. “We don’t think it is wise to prematurely withdraw from these programmes, until we see actual recovery,” Mr Al Mubarak said. Saudi Arabia, the biggest Arab economy, launched fiscal and monetary support packages in 2020 to soften ...read more...