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King Salman Says Pandemic Proved Flexibility, Strength of Saudi Economy

King Salman Says Pandemic Proved Flexibility, Strength of Saudi Economy

Monday, 26 October, 2020 - 17:45
Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)

Custodian of the Two Holy Mosques King Salman bin Abdulaziz stressed on Monday that the novel coronavirus pandemic demonstrated the flexibility and strength of the Saudi economy.


In an address before the Business 20, he said: “We are determined to boost development and prosperity through empowerment and investment in new sectors.”


Minister of Investment Khalid al-Falih read the speech on King Salman’s behalf.


“The empowerment of youth and women are among the main priorities of the G20,” continued King Salman.


Moreover, he stressed that the G20 has been committed to “plugging the financial deficit in the World Health Organization.” It has therefore, contributed 21 billion dollars to support the production of diagnosis tools, treatments, medicines and vaccines, ensuring that they are distributed to all in need.


It has also pumped around 11 trillion dollars to protect the global economy, committing to do “all it can” to overcome the impact of the pandemic.


The G20 has discussed best practices to support the revival of global trade, stimulate economic diversity and boost international investment, continued King Salman.


“We cannot speak about new horizons in the G20 without discussing innovative solutions that can help develop the financial infrastructure, improve global trade systems and protect the private sector,” he said.


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