Riyadh to implement ‘strict, painful’ coronavirus measures

Riyadh will need to carry out “strict and painful” measures to strengthen the country’s economy, Saudi Finance Minister Mohammed al-Jadaan stated on Saturday.

“We must reduce budget expenditures sharply,” al-Jadaan said, asserting “all options for dealing with the crisis are open.”

The country’s economy, which is largely dependent on oil exports, has been hit particularly hard by the tumbling oil prices, adding to the already existing problems emanating from the coronavirus pandemic.

Breaking the News / MD