The authorities responded quickly and decisively to the COVID-19 crisis and the economic recovery that is underway is expected to continue. The government’s policies should deliver needed fiscal consolidation over the medium-term, although a slower pace of adjustment could be considered this year to provide further support to the recovery. This could be achieved by increasing spending on the social safety net. The private sector support programs implemented by the Saudi Central Bank (SAMA) and banks have provided breathing space to small and medium-size enterprises (SMEs) and should be withdrawn carefully. Important ... (full story)