Sunday, 03 May 2020 06:22 AM MYT
RIYADH, May 3 — Saudi Arabia will take strict and painful measures to deal with the economic impact of the coronavirus pandemic, the finance minister said on Saturday, adding that “all options for dealing with the crisis are open”. The world’s largest oil exporter is suffering from historically low oil prices, while measures to fight the coronavirus are likely to curb the pace and scale of economic reforms launched by Crown Price Mohammed bin Salman.
Jadaan said last month that Riyadh could borrow US$26 billion more this year while it would draw down up to US$32 billion from its foreign reserves to finance the deficit.
Source: News Formal (newsformal.com)
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