Saudi Arabia plans to pour 86 billion riyals ($23 billion) into beautifying its capital, Riyadh, with projects expected to create tens of thousands of jobs.
DUBAI: Saudi Arabia’s 200 billion-riyal (US$53bil) lifeline to its non-oil economy may be in place for longer than planned as the kingdom supports industries struggling to cope with reforms that pushed up costs and dampened demand.
The programme is earmarking 36 billion riyals to boost private-sector growth this year, on top of the 40 billion riyals already spent, according to Naif Al-Rasheed, managing director of the Private Sector Stimulus Office.
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