💰 Financial Record

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Transaction Details

Amount

USD $2,800,000,000.0

Payer (From)

Saudi Economy (Remittances) Linked to Saudi Economy (Remittances)

Payee (To)

Foreign Entities/Individuals Linked to Foreign entities

Transaction Date

January 01, 2020

Description

Projected annual additional Fx outflows through remittances due to wage increases (0.4% of GDP).

Additional Details

Date string: 2020 (Projected)

Amount string: 2800000000

Source document: HOUSE_OVERSIGHT_016137.jpg

📄 Source Document

HOUSE_OVERSIGHT_016137.jpg

ESTATE Collection

View Document

Document Summary

A Merrill Lynch financial research report (GEMs Paper #26) dated June 30, 2016, analyzing Saudi Arabia's fiscal balance, government debt, and labor market trends. The document discusses the economic impact of the National Transformation Program (NTP) and 'Nitaqat' Saudization initiatives, specifically focusing on the costs of foreign versus national labor and projected financial outflows. The document bears a 'HOUSE_OVERSIGHT' Bates stamp, indicating it was part of a document production for a congressional investigation.

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