[ad_1]
Finance Minister Muhammad Al-Jadaan stressed that increasing the value added tax was a difficult option to deal with the economic damage and that there are currently no plans to consider in the short or medium. term.
During his speech after the conclusion of the G20 summit, he explained that the Kingdom had taken dozens of measures worth around 200 billion riyals to support the economic sector, and that what plagued the Saudi economy afflicts world economies.
He revealed that more than 40 countries had submitted applications to participate in the debt relief program, indicating that the approval of the debt suspension and its six-month extension was a great success.
He said they would not stop at the debt relief initiative, but rather seek to reform the economic systems of these countries and that the banking institutions were ready to help these countries.
He said they were looking to provide support to poor countries and called on international financial institutions to come up with their proposals.
Mohammed Al-Jadaan #Ministry of Finance: Value added tax was imposed as a very difficult option; But it is necessary to maintain the financial viability of the Kingdom, and we will review it according to the evolution of the economic situation. pic.twitter.com/EIn9QdxtgS
– Saudi channel ?? (@saudiatv) November 22, 2020
[ad_2]
Source link
