News Column

IMF thumbs up to KSA

June 16, 2014







International Monetary Fund (IMF) Managing Director Christine Lagarde. (Reuters file photo)

JEDDAH: ARAB NEWS

Saudi Arabia has held 18th position in countries having low unemployment rates in 2013, said a report issued by the International Monetary Fund. Three years ago the Kingdom's position was 27.

Ibrahim Badawood, managing director of ALJ Community Initiatives, described the IMF report as "great news." He said it shows that the efforts made by the Labor Ministry during the past three years were yielding fruits.

He said the ministry was working from different angles to encourage the private sector to employ more Saudis. "It was giving them incentives by offering them part of salaries paid to Saudis and sanctioning recruitment visas."

Speaking with Arab News, he said the unemployment rate in the Kingdom has reduced significantly as a result of the joint work of public and private sectors. He urged Saudis to make use of the job opportunities and work hard to impress their employers.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Arab News (Saudi Arabia)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters