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FinancialNews


  • 26-01-19

    Saudi Arabia maintains efforts to boost economy via reforms

    (MENAFN) Saudi Arabia is assured to keep launching its fiscal reforms with an aim to strengthen its economy following a deficit reduction to hit 5 percent of GDP compared to 9 percent.

    The statement was made by Saudi Minister of Finance Mohammed Al-Jadaan on the sidelines of the World Economic Forum.

    According to the Saudi minister, "investments are ongoing. Five mega projects have been awarded to the private sector over the last three months in infrastructure, energy, water treatment, desalination and healthcare."

    Al-Jadaan further announced an expectation for investments to be increased over the upcoming four months.

    He added that "our non-oil revenue has grown significantly in the last four years, three times, 300 percent. We intend to continue our fiscal reform, and control our deficit, and, so far, we have been very successful."

    MENAFN2601201900450000ID1098025923

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