Riyadh – Mubasher: Private sector’s stimulus plan in Saudi Arabia is one of the key catalysts for the economy on the short-term, Okaz newspaper said on Wednesday, citing informed financial sources as saying.
The Saudi government allocated SAR 72 billion for the first phase of the kingdom's incentive plan from 2018 until 2020, the sources added.
More than SAR 20 billion was earmarked for 2018 that in return would boost the gross domestic product (GDP), create more job opportunities, support the small- and medium-sized enterprises (SMEs), and attract further investments.
The Private sector’s stimulus plan was approved on two levels.
The first level includes 17 initiatives focus on enhancing exports and increasing liquidity.
The plan’s second part concentrates on the structural transformation of the private sector, and its initiatives will target specific fields as energy efficiency and raising productivity.
