According to Al-Arabiya, government incentive packages for individuals, enterprises and investors are equivalent to about 8.6% of the Kingdom's gross domestic product of 2.64 trillion riyals (about $ 704 billion), according to Economic Newspaper.
The stimulus to Saudi GDP is among the highest rates compared to the largest economies in the world, with only three countries preceding it, Germany, Japan, and the United States with rates of 20.9% and 18.8 % And 10.3%, respectively.
Saudi Arabia exceeds the rates for China, India, the United Kingdom, France, Italy, Brazil, Canada, South Korea, Spain, Australia, the Eurozone, and Indonesia, Spain came behind Saudi Arabia in the percentage of stimulus packages to GDP at 7.8%, Australia (5.8%), and South Korea (4.9%), and Canada recorded 4.5% of the output, France (4%), and the United Kingdom (3%) ), Brazil (1.5%), China (1.3%), India (0.8%), Indonesia (0.7%), and Italy (0.4%).
The Saudi stimulus also exceeds that of the euro area, which has a rate of output of 3.2%.
The most prominent Saudi government package to confront Corona was 50 billion riyals from the Saudi Arabian Monetary Agency (SAMA) for financial institutions and small and medium enterprises. In addition to a first package announced by the Ministry of Finance of about 70 billion riyals, which is exemptions and postponement of some government dues.
The government carries through the Sand system 60% of the salaries of Saudi private sector employees with a total value of up to nine billion riyals, as well as a new package announced by the Ministry of Finance, which exceeds 50 billion riyals to support and exemptions and expedite the payment of the dues of the private sector.
There are two sums added to the health sector as needed, as the volume of support for the health sector reached 47 billion riyals in addition to raising the health sector's readiness.
