The government of the Kingdom of Saudi Arabia agreed to reduce the budget for the current year by less than 5% in some items with the least social and economic impact.

According to the Saudi Press Agency (SPA), the finance minister in charge, Mohamed Al-Jadaan, said that the Kingdom of Saudi Arabia has approved a reduction of 50 billion riyals in the current budget, equivalent to 13.3 billion Dollars.

Al-Jadaan said: The government has taken measures to reduce the impact of low oil prices, and additional measures will be taken to deal with the expected price drop.

The Minister added: Considering the potential effects of the Corona Virus outbreak, developments will be reassessed, items of expenditures reviewed, and appropriate decisions taken in a timely manner.