Saudi Central Bank Governor Ahmed Al-Khulaifi said on Saturday that the kingdom's economy probably declined in the second quarter more than the first three months of this year.
Al-Khulaifi confirmed - at the end of a hypothetical meeting of financial officials of the Group of Twenty - that he did not expect the Saudi economy to improve in the second quarter despite the improvement in June.
He added that the developments and figures for the Saudi economy during last June are positive with the start of the return of economic activity.
The Saudi economy shrank by 1% in the first quarter of this year, affected by the Corona virus and the drop in oil prices.
On the other hand, Al-Khulaifi indicated that the program of postponing payments will end mid-September, explaining that the situation is currently being evaluated, and that future intervention will be required if necessary.
Al-Khulaifi revealed that "the number of contracts for establishments that benefited from the program since its launch in mid-March this year has now reached 72 thousand contracts, worth more than 51 billion riyals."
Al-Khulaifi stated that the first package of support, which was programmed to be worth 50 billion riyals, exceeded 70 billion riyals.