Saudi Cabinet approves economic, security strategy

King Salman Chairs Saudi Arabia’s Cabinet's in Jeddah

The Saudi Cabinet on Tuesday began its session with a brief on Saudi Arabia’s delegation participating in the World Economic Forum in Davos. The report included discussions and meetings held with senior economists on the UN’s sustainable development goals.

Chaired by King Salman at Al-Yamamah Palace in Riyadh, the Cabinet discussed the significance of the Kingdom’s role in the 2020 G20 Riyadh Summit.

The Council then highlighted the reforms and achievements of the Kingdom’s Vision 2030 and its strategic priorities.

The Cabinet said that it will be monitoring the developments of the oil markets following the negative perspectives after the possible impact of Coronavirus on the Chinese and global economies.

It expressed its belief that the Chinese government and the international community will eradicate the virus, noting that the Kingdom and OPEC’s member states have the necessary capabilities to address any changes by taking measures to support oil market stability.