Saudi king says equal redistribution key to economic reforms

Saudi King Salman bin Abdullah Al Saud stressed Wednesday that economic reforms depend on equal resource redistribution, Al Eqtisadiya local online news reported.

He highlighted that during the first session of the Shoura (consultative) council's new legislative term, without explaining further the redistribution process roadmap, stressing that the reforms aim to ensure decent living standards for citizens.

Saudi Arabia has launched various initiatives promoting economic diversity to attract investments in preparation for a post-oil era after the plummeting oil prices in international markets.

He added that the economic policy is based on diversifying incomes and enhancing productivity, and assured that the current financial impediments will soon be overcome.

In addition, he said Saudi Arabia supports political solutions for international crises to attain peace, stressing that the country's stance toward Yemen remains unchanged.

He highlighting that Yemen's security is Saudi Arabia's security and affirmed that Saudi Arabia does not intend to interfere in Yemeni internal affairs.

Saudi Arabia has been leading a coalition in a war against Houthi rebels in Yemen since March 2015.

To date, there seems to be no sign on the horizon of an end to the war which has killed hundreds of civilians from both sides, particularly Yemenis.

source: Xinhua