Unemployment among Saudi nationals hit a record high of 15.4 per cent last year
The new plan comes after the coronavirus pandemic and oil market turmoil created a double crisis for Saudi Arabia
Saudi Arabia was hit hard last year as a drop in crude prices decimated government revenue while measures to stop the spread of the coronavirus limited economic activity
The economic consequences of the Covid-19 pandemic have been severe for all countries around the world
The dual shock of lower Brent prices and the coronavirus pandemic this year has taken an especially heavy toll on the region
Besides signing a bridge loan for OMR770m and issuing OMR550m in development bonds this year, Oman has also been tapping its reserves and privatising some assets
The digital economy’s contribution to the UAE’s local GDP in 2019 reached 4.3 per cent
The country expects the tourism industry to contribute more than 10 per cent of its annual GDP and create more than 1 million jobs by 2030
The county is estimated to post a GDP growth rate of six per cent in 2012, according to a study by Kuwait Finance House.
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