RIYADH: Mohammed Al-Jadaan, the minister of finance and acting minister of economy and planning is set to discuss the latest economic developments in Saudi Arabia in light of the challenges facing the global economy as a result of the COVID-19 outbreak. During a video conference on Wednesday, he will focus on initiatives previously announced by the government to tackle the effects of the pandemic on the private sector and financial activities. Government agencies are providing a package of measures worth more than SR70 billion ($18.7 billion) that includes exemptions to and postponement of some debts due to the government, with the aim of improving liquidity in the private sector. This is in addition to SR50 billion of economic measures designed to support the private sector, including additional exemptions and the fast-tracking of payments due to businesses. The Saudi Arabian Monetary Authority is also providing a SR50 billion support program for banks, financial institutions, and small and medium enterprises. The government has also pledged SR9 billion to pay 60 percent of the salaries of private-sector employees, who are registered with the General Organization for Social Insurance, for three months.