Saudi Arabia expects negative impact on economy amid COVID-19 pandemic


RIYADH: The Saudi Arabian Monetary Authority (SAMA) expects a negative impact from the COVID-19 pandemic and the resulting global recession on the Saudi economy, amid the slump in oil prices and low demand due to suspension of travel and economic activities. A statement of Saudi central bank carried by the state news agency Saudi Gazette, said that however, the negative impact would likely be mitigated by the strong measures taken by various Saudi authorities.