Alahednews
english.alahednews.com.lb
Al-Ahed Telegram
Sayyed Nasrallah: US-Gulf Sanctions Ineffective, Confident of Victory in any Coming War Egypt, Ethiopia Fail to Reach Breakthrough in Dam Negotiations Intriguing Gold Coin, Other Treasures Uncovered in Egypt US House Okays Motion Opposing Attack on Iran Reform in Reverse in Saudi Arabia Champs League Final: Madrid, Liverpool Fans Gather in Kiev Struggling in Parliament, German Far Right Takes to Streets Why Trump’s Small-Handed Plan to Strangle Iran Will Fail South Korea Relieved About Trump-Kim Summit Revival Efforts «Israeli» Court Approves Razing West Bank Bedouin Village #Ethiopia Releasing #British National Detained in 2014 Sayyed #Nasrallah: Among the brother MPs in the ‘Loyalty to the Resistance bloc’, we chose Hassan #Fadlallah to follow up the file against #corruption Sayyed #Nasrallah: Our fight against #corruption is a serious and major battle, and it completes what happened in the 2000 #liberation Sayyed #Nasrallah: #Hezbollah didn’t and will not demand having one of the so-called sovereign ministerial portfolios Sayyed #Nasrallah: There are parties with whom we may disagree strategically, but nothing prevents from cooperating with them in fighting #corruption Sayyed #Nasrallah: The #Moroccan foreign minister has not offered any evidence to his #Iranian counterpart backing his accusations Sayyed #Nasrallah: #Hezbollah will not put forward a candidate to head any of #Lebanon’s key ministries Sayyed #Nasrallah: #Terrorism lists won’t delay formation of #Lebanese government Sayyed #Nasrallah: When they face popular #resistance, they will not be able to defeat it Sayyed #Nasrallah: Blacklisting #Hezbollah aims at scaring the allies and pushing them away from the resistance and also at drying up the #resistance's funding sources and they've been seeking this since the #1990s
Guestbook mailinglist.php arabic site french site spanish site facebook twitter rss page
News Categories » NEWS » Middle East » Saudi Arabia

Decrease Font Size Increase Font Size  Print Page
Saudi King Orders New Allowances to Offset Rising Costs
Local Editor

Saudi King Salman on Saturday ordered a monthly payment of 1,000 riyals [$267] to state employees over the next year in compensation for rising cost of living after the government hiked domestic gas prices and introduced value-added tax [VAT].

King Salman

In a royal decree published by state news media, the king also ordered the payment of 5,000 riyals to military personnel serving at the front lines with Yemen where the kingdom is fighting a nearly three-year-old war.

Saudi Arabia, the world's top oil exporter, roughly doubled gasoline prices on Monday as part of a broad reform initiative aimed at diversifying its economy. A 5 percent VAT on a broad range of goods and services came into effect on the same day.

The new payment orders were an acknowledgment of "the increased burdens for some segments of the population following from the necessary measures which the state took to restructure the economy," according to the decree.

Salman directed the state to bear the burden of VAT in some situations, including special health and education services as well as the first purchase of a house that is valued at up to 850,000 riyals [$226,660]. Allowances for students, retirees and social security recipients were also boosted.

The decree did not reveal the total cost of the new allowances, but it appeared to be considerably smaller than some past handouts by Saudi kings, and therefore unlikely to have much impact on economic growth or the state budget deficit.

About 1.18 million Saudis are employed in the government sector and there are more than 1.23 million pensioners and beneficiaries of pension payments, the central bank says. That suggests a total package cost of about 23 billion riyals, according to Reuters calculations.

Source: News Agencies, Edited by website team

06-01-2018 | 12:33


Name
E-Mail
Comment Title
Comment
Human Verification


News Coverage

Related News

Search
To Top