SAUDI PRIVATE SECTOR GETS $19.2-B STIMULUS

RIYADH: - ing 72 billion riyals ($19.2 billion) of stimulus funds to support the Saudi private sector.

role of the private sector in light of economic reforms to diversify the Saudi economy away from oil following a slump in crude prices.

- nance 16 initiatives, the largest of which earmarks $5.7 billion to provide subsidised housing loans news agency SPA.

- for the newly established exports promotion fund which will eventually have capital of $8 billion.

billion will be allocated to support construction technology, the decree said.

spent on a string of smaller projects carried out by the private sector with the aim of strengthening the competitiveness of the Saudi economy. AFP