Saudi Arabia has promising economic sectors and incentives, which can post strong growth and provide more job opportunities, such as the financial, information technology, tourism and entertainment sectors, Mohammed Al-Jadaan, Minister of Finance, said.
The Saudi non-oil gross domestic product (GDP) is projected to record positive growth this year, Al-Jadaan told Al-Arabiya TV, stressing that the Saudi Vision 2030 focuses on non-oil GDP growth, as the oil sector is impacted by output, global conditions and prices.
Meanwhile, Al-Jadaan said coronavirus (COVID-19) outbreak had no impact on the Saudi economy.
“Coronavirus had a clear impact on tourism, the supply chain and air transport movement. However, it’s early to evaluate its impact. In the next two-three weeks, the world will be able to assess this impact, based on results in China and other countries,” the minister noted.
Commenting on the G20 final communique, the G20 finance leaders reached a consensus about global challenges, including the digital economy and related tax.
The global tax systems date back to 100 years ago. They are no longer able to address new economic challenges and the digital economic requirements, Al-Jadaan concluded.
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