The key objective of Saudi Arabia’s policy aims to encourage economic diversification amid financial and monetary stability, Saudi Press Agency reported, citing Governor of the Saudi Arabian Monetary Authority (SAMA) Dr. Ahmed bin Abdulkarim Alkholifey.
Speaking at the 2020 Institute of International Finance (IIF) G20 Conference held in conjunction with the first Ministerial Meeting of Saudi Arabia’s G20 Presidency in Riyadh, Alkholifey added that the Kingdom’s monetary, financial and structural policies entail enhancing the contribution of the non-oil sector to the gross domestic product (GDP) on the medium run.
“Being an open economy, Saudi Arabia among other regional countries is affected by global developments and trends,” he stressed.
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