Saudi govt moves to mitigate impact of coronavirus on economic activities and private sector – Saudi Gazette

Saudi govt moves to mitigate impact of coronavirus on economic activities and private sector – Saudi Gazette

, the minister announced that the government has prepared urgent initiatives to support the private sector, especially small and medium enterprises and economic activities most affected by the virus.. The financial stimulus package of these initiatives reaches more than SR70 billion, which consists of exemptions and postponement of some government dues to provide liquidity to the private sector thereby enabling them to manage continuity of their economic activities.. for Small and Medium Enterprises, to develop the necessary initiatives to support the objectives during this exceptional period, and to support them from the available resources at the funds and banks under the National Development Fund as needed.. , the government will use the tools available to finance the private sector, especially small and medium enterprises, in addition to strengthening support programs to mitigate the impact on the private sector and economic activities, and to ensure the promotion of financial stability.. The government also confirms its determination in paying its obligations in accordance with their due dates will honor its payments, in addition to applying measures that maintain the financial sector soundness..