Saudi economic recovery likely to be ‘positive’ in 2021: SAMA

Fahad Al-Mubarak, Governor of SAMA

Saudi Arabia’s economic recovery is expected to be “positive” this year, Reuters reported, citing Fahad Al-Mubarak, Governor of the Saudi Central Bank (SAMA).

Initial economic indicators during the first quarter, as well as improved oil prices, were supportive, Al-Mubarak said, speaking at a virtual event organised by the International Monetary Fund (IMF).

Elsewhere, Al-Mubarak noted that it was not wise to halt the stimulus programs launched by the Saudi government to support the economy during the COVID-19 crisis until actual economic recovery is achieved.