Saudi’s $19 Billion Stimulus Will Prioritize Housing and Small Business
- Program includes support for housing construction: minister
- Commerce Minister Al-Qasabi spoke in an interview in Riyadh
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Saudi Arabia on Thursday unveiled a 72 billion-riyal ($19.2 billion) program to bolster private-sector growth, 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, 200 billion-riyal 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 Wednesday in Riyadh. It’s a key component of the kingdom’s Vision 2030 economic-transformation plan, ahead of the 2018 budget due next week.