Unemployment in Saudi Arabia has been declining since 2019

Media In-Agencies 19-12-2018

Saudi Arabia expects its unemployment rate to fall from 2019, from its current level of 12.9 percent, Saudi Economy and Planning Minister Mohammad Tuwaijri said.
“The figure is 12.9 percent and we expect it to start retreating from 2019,” Tuwaijri said at a press conference following the Saudi budget announcement.
He added that the contribution of Saudi citizens in the labor market is currently 42 percent.
Altwaijri said that foreign investment in the Kingdom in 2018 amounted to 13 billion riyals, up 110% from the previous year.
On the other hand, Saudi Central Bank Governor Ahmad Al-Khulaifi said that the position of the local currency is “very reassuring”, warning that the bank will not allow speculation.
“When we say it is a red line, we mean that we will not allow anyone to fight it,” he told a news conference.
He reiterated that the central bank does not intend to change the exchange rate policy, as Riyadh keeps it at 3.75 to the dollar.