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Custodian of the Two Holy Mosques approves a package of additional initiatives to mitigate impacts of Coronavirus on economic activities and private sector
The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has approved a package of additional initiatives including support, exemption, and expediting payment of private sector dues as an extension of continuing efforts of the Government to deal with impacts and consequences of the novel Coronavirus pandemic and take all measures to confront financial and economic impacts on the private sector and economic activities which have been most affected by repercussions of the pandemic. On this occasion, Minister of Finance, Acting Minister of Economy and Planning Mohammed bin Abdullah Al-Jadaan, expressed his thanks to the Custodian of the Two Holy Mosques for his approval of the additional initiatives, stressing that the government has taken a number of additional precautionary measures aiming to provide cash to the private sector that can be used to manage its economic activities, work continuously to study the effects and repercussions of the Coronavirus crisis and its challenges in a number of sectors and regions, and study opportunities to address them whether with support or stimulus or others. He pointed out that the additional initiatives prepared by the government included support, exemptions and expediting the payment of the dues of the private sector, which come as an extension of the announced initiatives to support the private sector, especially small and medium enterprises and economic activities most affected by the consequences of this pandemic, which exceeded SR 70 billion, such as exemptions and postponement of some government dues, and the government bears through the Sanid system 60% of the salaries of Saudi private sector employees with a total value of SR 9 billion, in addition to the support program announced by Saudi Arabian Monetary Authority to banks, financial institutions, and small and medium-sized enterprises with an amount of SR 50 billion at the current stage. --More 15:25 LOCAL TIME 12:25 GMT 0020 www.spa.gov.sa/2075007
