Saudi Government Initiates SAR 70 Billion Support for the Private Sector

The Government of the Kingdom of Saudi Arabia has designed immediate measures to assist the private sector, particularly small and medium-sized enterprises (SMEs) and sectors of the economy which are mostly affected by the COVID-19 outbreak. 

The financial stimulus from these measures is expected to exceed SAR 70 billion, consisting of exemptions and the postponement of some government fees to provide liquidity to the private sector, thus allowing them to sustain the continuity of their economic activities.

Vital measures introduced within the SAR 70 billion package include: exemption of expat levy for those whose residency permit has expired from now until the 30th of June 2020 by e...