The Kingdom of Saudi Arabia has released its budget for 2020 which will see an expenditure of 1.02 trillion riyals, compared to 1.05 trillion in 2019. Saudi Aramco, officially the world’s largest IPO, briefly reached a valuation of $2 trillion on its second day of trading on Thursday with shares reaching 38.7 riyals. In other news, new unemployment figures show that the unemployment rate decreased to 5.5 percent in the total population of the Kingdom and 12 percent for the total Saudi population.

 

To read about this and more of the week’s news from the Kingdom, click here.

If you would like to be added to our weekly email distribution of this newsletter, please email us.

Leave a Reply

Your email address will not be published. Required fields are marked *