Hurrah! Saudi King Salman Announce Special Allowance For His Countrymen

| January 6 , 2018 , 19:19 IST

Saudi Arabia’s King Salman on Saturday declared a monthly payment of 1000 riyals ($267) to his countrymen in order to lessen the impact of rising cost of living after the sudden increase in domestic gas prices and introduced VAT.

Providing relief to Saudi Arabians, student’s stipends will be increased by 10 percent, an official statement said. As per the International Labour organisation, the percentage of jobless people in Saudi is 32% (15 to 24 aged people) and 1.18 million Saudis are engaged in government sector while 1.23 million people are pensioners.

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.

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

The coming year's budget contemplates record spending for the kingdom, a step meant to revolutionize the economy to positive growth.

King Salman directed the state to support the citizens by giving allowance on health and education services and on the purchase of houses which costs up to 850,000 riyals ($226,660). The country is looking forward to strengthening itself in terms of employment too.