Cash settlements to help needy Saudi families

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Davos — Cash settlements obtained from people detained in Saudi Arabia’s crackdown on corruption will help to finance a SR50 billion ($13.3 billion) package to help citizens cope with the rising cost of living, Finance Minister Mohammed Al-Jadaan said on Wednesday.

The package was announced by King Salman early this month, said Jadaan, speaking to Al Arabiya television at the World Economic forum in Davos.

He said the package would also be financed by money from the state budget. — Reuters

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Source Credit: Saudi Gazette

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