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Wednesday, 2 May 2018

Saudi Contractors Still Struggle With Payment Delays - Bloomberg

Saudi Contractors Still Struggle With Payment Delays - Bloomberg:

"Some contractors in Saudi Arabia are still struggling to get paid on time by the government despite assurances from officials that the long-running problem has been resolved, potentially threatening a nascent economic recovery in the kingdom. While the Finance Ministry is honoring a pledge to pay the dues on time, many government departments are taking months to process the paperwork and send it to the ministry, according to four people with knowledge of the matter who asked not to be named because the issue is sensitive. In other cases, the delay is caused by a long backlog of payments that the government is gradually working through, two people said."



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