A report issued by the Council of Saudi Chambers, on the impact of the "Covid-19" pandemic, revealed 3 possible scenarios for the Saudi economy, and the report suggested controlling the virus by next June, which could lead to a gradual return to business.
The three scenarios referred to in the report issued by the Information and Research Center at the Council of Saudi Chambers, under the title "The Economic Effects of Covid-19" were based on the time period, whereby the first scenario expects to control the virus by the end of this month, while the second will be in next June, and the third the coming September, where it set up points recorded for each stage, after which the effect on the national product is recorded.
The second scenario may be the closest to occurring, according to the report, as it will push control over the economic repercussions to start easing the closing procedures by the end of April, with the return to normalcy gradually, at a time when the world is awaiting developments about developing or creating vaccines to accelerate the return of economic activity.
According to the report, the Saudi economy still shows high durability and a high level of credit with the certifications of international rating institutions, in addition to the presence of huge foreign currency reserves amounting to $490 billion covering a value of 47 months of imports and equal to 8 times the global average, which dispels the fear of any import crisis.
Source (Al-Sharq Al-Awsat newspaper, Edited)
