Samba chairman says COVID-19 economic impact may last for up to 2 years

He pointed out, during a seminar entitled “Empowering Saudi Economy during Pandemic” organized by the Communication and Financial Knowledge Center (CFKC), that the collapse of interest rate and economic stimulus packages approved by central banks marked the difference between changes taking place in the economy and those occurring in stock markets. 

He further praised the Saudi Arabian Monetary Authority’s (SAMA) initiatives to offset the impact of pandemic, adding that they not only mitigated its aftermath but eliminated it, as private sector loans were rescheduled without extra fees.