The world's biggest oil exporter this week announced a raft of measures designed to raise funds, including a sharp reduction in cash handouts to Saudi citizens and a tripling of the sales tax rate to 15%, starting in July.
The decline earlier this year led the central bank to put out a statement affirming that it would keep the Saudi riyal pegged to the US dollar.The economic backdrop remains grim: The International Monetary Fund expects Saudi Arabia's economy to contract by 2.3% this year. Global oil demand dropped by nearly 30% last month, and an annual decline of 10% is expected this year, according to the International Energy Agency.
If you look at the crona virus cases we are nothing compare to USA & are economy will always be strong wether you like it or not , ps ... most staff don’t go to work and and receive full salary 🤗🇸🇦🇸🇦❤️❤️kingdom of Saudi Arabia 🙌love my country from my heart ❤️
They shouldn’t have gotten into the price war with a Russia.
It took the Coronavirus for Saudi Arabia to reduce the price or it's oil? Tisk,tisk
U guys R jokes !!! focus on ur country rather than focusing on a country that is 6,000 mils away ... BTW, SA did curfew, stopped economy & took 'drastic steps' to save lives & sad to have 255 dead from COVID-19, but remind me again what about US? stay within ur borders clowns