TAG: Saudi Arabia
The Covid-19 pandemic that spread quickly around the world after emerging in the city of Wuhan in December 2019 has been hard for many and extremely tragic for some.
Saudi Arabia was in the midst of a process of economic diversification when Covid-19 hit, as it sought to develop new non-oil growth engines and stimulate private sector job creation.
Saudi Arabia’s strong economic fundamentals allowed it to raise funds from international debt markets and deploy a broad range of fiscal and monetary tools to plug revenue shortfalls and alleviate some of the hardships facing businesses as a result of the Covid-19 pandemic.