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Topic: Saudi Government support for the private sector employees during COVID-19 pandemic has resulted in reduced layoffs. Discuss
answer
- The Saudi government’s support towards the private sector is estimated as a financial support package of almost $61 billion.
- A lot of exemptions have been included in the package including postponement of dues that the private sector firms would have to pay to the government.
- For upto 3 months, the government have also decided to pay 60% of the salaries of private sector employees, which would ease the pressure on private firms.
- All these steps have directly resulted in reducing the number of layoffs as the financial pressure has been taken off the private firms during covid 19.
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