Saudi Arabia Announces USD 31.9 Billion Stimulus Package to Mitigate the Economic Crisis Caused by the COVID-19 Outbreak

The Saudi Arabian government has recently announced a SAR 120 billion (USD 31.9 billion) financial stimulus package to mitigate the economic effects of the COVID-19 outbreak in the Kingdom. This stimulus package is made up of SAR 70 billion (USD 18.6 billion) to support the private sector and central bank’s SAR 50 billion (USD 13.3…