Saudi Arabia eases financial burden on citizens in royal decrees

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JEDDAH: Saudi Arabia’s King Salman made a series of royal decrees early Saturday easing the financial burden on the country’s citizens.

Saudi state workers and military personnel will see a rise of SR1,000 ($267) in salaries for the next 12 months, effective Jan. 1, 2018, while soldiers in combat on the Kingdom’s southern border will get a one time bonus of SR5,000.

To help with living expenses, welfare recipients and pensioners will get an extra SR500 monthly stipend for the rest of the year.

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Government salaries will now be paid on the 27th of each month with all service bills to be issued a week later.

Students are also helped in the king’s decrees with a hike of 10 percent in allowances for the next 12 months.

The state will bear the impact of newly introduced VAT by absorbing it for citizens using private healthcare and education.

There is also good news for first-time home buyers with the state paying the VAT — not exceeding SR850,000 — on the purchase.

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Source Credit: Arab News


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