Muslim pilgrims put on masks on the Grand Mosque in Saudi Arabia's holy metropolis of Mecca on February 28, 2020. Saudi Arabia suspended visas for visits to Islam's holiest websites for the "umrah" pilgrimage, an unprecedented transfer triggered by coronavirus fears that raises questions over the annual hajj.
ABDEL GHANI BASHIR | AFP | Getty Pictures
Saudi Arabia's authorities unveiled stimulus measures amounting to 120 Saudi billion riyals ($32 billion) on Friday to help an financial system hit by the double blow of the coronavirus disaster and dramatically decrease oil costs.
The sum contains Riyadh's 50 billion riyals bundle introduced final week to help small and medium-sized companies. Friday's announcement introduces an extra 70 billion riyals to assist companies, together with the postponement of tax funds and exemptions of varied authorities levies and charges.
Earlier this week, the dominion lower its 2020 finances by virtually 5%, a step that many economists predict would be the first of a collection of cutbacks...
Supply cnbc.com
