Saudi economic outlook uncertain amid low oil prices, COVID-19: Central bank gov

A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia, July 27, 2017. (File photo: Reuters)

The outlook for Saudi Arabia’s economy this year is uncertain, the kingdom’s central bank governor said on Wednesday, as the oil exporter navigates the effects of low oil prices and the coronavirus pandemic.

Ahmed al-Kholifey, governor of the Saudi Arabian Monetary Authority (SAMA), speaking to a virtual Euromoney event, also reaffirmed the bank’s commitment to the local currency peg to the US dollar.

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Last Update: Wednesday, 09 September 2020 KSA 15:00 - GMT 12:00
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