Saudi $19 Billion Stimulus to Prioritize Housing, Small Business - Bloomberg

Saudi $19 Billion Stimulus to Prioritize Housing, Small Business - Bloomberg:

"Saudi Arabia will on Thursday unveil a 72 billion-riyal ($19.2 billion) program to bolster private-sector growth in 2018, with money to support housing construction as well as fee waivers for small businesses, Commerce and Investment Minister Majid Al-Qasabi said.

The package, part of a four-year stimulus program announced last year, contains 17 separate initiatives the government hopes will result in direct and indirect job creation, Al-Qasabi said in an interview in Riyadh. It’s a key component of the kingdom’s Vision 2030 economic-transformation plan ahead of the 2018 budget due next week.

"Next year is the year for stimulus," Al-Qasabi said. "That’s how we will strengthen our bonds with local and international investors.""



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