12% fall in remittances as SR11.9bn flew out in April

In this file photo, a Saudi money exchanger counts Saudi riyals in Riyadh. (REUTERS)
Updated 01 June 2016

12% fall in remittances as SR11.9bn flew out in April

JEDDAH: Foreign remittances fell by 8.3 percent to SR11.9 billion in April, compared to SR13 billion in April last year, the lowest level recorded since 2014. Reports indicated remittances declined on an annual basis in April 2016 by 12 percent, or about SR1.6 billion from SR 13.5 billion in April 2015.
Remittances during the first quarter of 2016 amounted to SR49.5 billion, down 4 percent from SR51.6 billion over the same period last year. Remittances in 2015 were the highest on record. About SR1.5 trillion was sent abroad over a 22-year period.
The Ministry of Labor and Social Development had previously told Al-Eqtisadiah that 8.7 million expatriates currently work in the private sector, 720,000 domestic workers and 72,000 in the public sector. The average salary for expatriates in April 2016 was about SR1,263 a month.
The Kingdom’s population was 31.52 million people at the end of 2015, growth of about 2.4 percent from 2014, according to the General Authority for Statistics. Saudi nationals account for 67 percent of the population at 21.1 million people, while expatriates account for 33 percent at 10.4 million people.


Saudi King praises role of women at W20 summit

Updated 22 October 2020

Saudi King praises role of women at W20 summit

RIYADH: Saudi Arabia’s King Salman has praised the exceptional role played by women during the coronavirus pandemic.
In a speech delivered at the end of the W20, the G20 women’s engagement group, on Wednesday, King Salman said: “I would like to express my gratitude to the Women 20 Engagement Group for their remarkable efforts and commitment to deliver their agenda during these unprecedented times caused by the COVID -19 pandemic.”
The Saudi king described women as the source of evolution for any society and said that without empowered women it is difficult to reform societies. 
“Women are the main source of development for any society. Hence, without empowered women, it is almost impossible to implement any societal reforms given that women form half of the societies and they are the ones who raise up generations. Women has proven through history their remarkable role in leading change and in decision making.”
The king noted that Saudi Arabia’s presidency of the G20 has dedicated special attention to discussing policies related to women across different ministerial and working group meetings.