CURRENT AFFAIRS

Detailed explanation-1: -The Kingdom increased VAT from 5 to 15 percent in July 2020 without damaging its economic growth, Minister of Economy and Planning Faisal Alibrahim said at the World Economic Forum in Davos.

Detailed explanation-2: -National Industrial Development and Logistics Program The Program aims to transform Saudi Arabia into an Industrial Powerhouse and a global logistics hub by leveraging the resources of sectors like Mining and Energy and focusing on the development of local content as well as Industry 4.0.

Detailed explanation-3: -Council of Ministers Court is the Supreme Council of Government in the Kingdom of Saudi Arabia. The President of this Court is the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and his deputy is His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud.

Detailed explanation-4: -The Kingdom of Saudi Arabia is the largest country in the Arabian Peninsula. It occupies an area about the size of the United States east of the Mississippi River.