Tri Network

Main Menu

  • Home
  • Economic growth
  • Corporate restructuring
  • Confirmation Bias
  • Bank Apr Uk
  • Financial Affairs

Tri Network

Header Banner

Tri Network

  • Home
  • Economic growth
  • Corporate restructuring
  • Confirmation Bias
  • Bank Apr Uk
  • Financial Affairs
Economic growth
Home›Economic growth›Post-COVID economic support estimated at 13.9% of Saudi GDP

Post-COVID economic support estimated at 13.9% of Saudi GDP

By Laura Wirth
April 9, 2022
4
0

JEDDAH – Saudi Finance Minister Mohammad Al-Jadaan said the Kingdom has weathered the coronavirus pandemic thanks to the speed of response and the unprecedented measures it has taken to protect citizens and residents as well as to support economic activity, which were estimated at 13.9% of gross domestic product. product (GDP).

He added that several Arab countries have started to recover from the effects of COVID-19 and return to economic growth, the Saudi Press Agency reported.

The minister expects – according to estimates by the Arab Monetary Fund (IMF) – that the combined economic growth of the Arab countries will amount to almost 5% in 2022, against 2.9% a year earlier.

This is due to several factors, including the relative improvement in global demand, high growth rates in the oil and gas sectors, as well as the continued adoption of stimulus packages by Arab governments to support economic recovery.

Commenting on climate challenges, Al-Jadaan said the Kingdom has realized the importance of concerted efforts to address the effects of climate change, and therefore presented qualitative initiatives of interest to the region and the world, including the ‘Saudi Green Initiative, Middle East. Green initiative and circular carbon economy.

These initiatives help achieve international goals of reducing carbon emissions and supporting stable economic growth.

He called on Arab financial institutions to leverage the circular carbon economy approach that was endorsed by G20 leaders in 2020.

© Copyright 2022 The Saudi Gazette. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Related posts:

  1. US Vice President and WTO chief agree on must reform the worldwide commerce physique
  2. Supporting ladies entrepreneurs is critical for financial progress
  3. NPC China goals for secure development with emphasis on employment: Premier Li
  4. Housing is a crucial key to financial development … Thankfully, it’s getting again on observe

Categories

  • Bank Apr Uk
  • Confirmation Bias
  • Corporate restructuring
  • Economic growth
  • Financial Affairs
  • TERMS AND CONDITIONS
  • PRIVACY AND POLICY