Saudi Arabia faces Covid-19 crisis with strong reserves, low debt, says minister | Malay Mail

Friday, 17 Apr 2020 12:30 PM MYT

CAIRO, April 17 ― Saudi Arabia is facing the global crisis from a position of strength, given its strong financial position and reserves, with relatively low government debt, its finance minister said, referring to the impact of the coronavirus outbreak. It is also taking into account the re-prioritisation of spending under the current circumstances, Mohammed al-Jadaan said in comments to a virtual meeting of the International Monetary and Financial Committee yesterday.

The minister also stressed the need to adapt time-bound and transparent financial and monetary measures that will help lead to a rapid economic recovery and contain financial risks.

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