Saudi King orders massive $29.3 billion spending
The spending includes lavish payments of two months bonus salary to all Saudi state employees
King Salman bin Abdulaziz has ordered a massive $29.3 billion (110 billion Saudi Riyals) spending in a series of decrees issued on Thursday, that include lavish payments of two months bonus salary to all Saudi state employees and a series of subsidies.
Former government employees will receive two months bonus pension, while students, people with special needs and people receiving welfare payments will also benefit from a bonus payment equivalent to two months of their annual income.
The King posted a statement later on Twitter in which he addressed his people saying: “You deserve more and whatever I do will never meet your right. I ask Allah to help me and you for the service of religion and the nations. Don't forget me in your prayers.”
Included in the handouts was $5.3 billion (20 billion riyals) pledged in subsidies for electricity, water, and housing.
King Salman succeeded his brother, the late King Abdullah, who died after a short illness last week.
And in a commitment to the arts, King Salman pledged $267,000 for each art club in the kingdom.
-
Saudi King Salman issues major royal orders
King Salman has appointed several ministers and replaced governors of Makkah and ... Middle East -
Saudi King orders massive $29.3 billion spending
The spending includes lavish payments of two months bonus salary to all Saudi ... Economy -
Obama holds talks with King Salman in Riyadh
Obama leads major bipartisan delegation to Saudi Arabia in sign of important ... Middle East -
Obama’s large delegation to Saudi: Bridging past loyalties, enduring future
he size of the delegation illustrates the level of cooperation that Washington is ... Analysis -
Adviser: Oil not seen high on agenda of Obama-Salman talks
Obama arrived in Saudi Arabia on Tuesday to pay U.S. respects after the death of ... Energy -
Profile: Crown Prince Muqrin bin Abdulaziz Al Saud
Prince Muqrin served in the Royal Saudi Air Force (RSAF) from 1965 to 1980 Features -
Profile: King Salman bin Abdulaziz
Custodian of the Two Holy Mosques King Salman bin Abdulaziz was proclaimed the ... Features -
Major milestones in U.S.-Saudi relations
Saudi Arabia and the United States have enjoyed more than 80 years of bi-lateral ... Featured Perspectives -
Saudi Arabia: King Salman to meet Obama in Riyadh
Obama cuts short his visit to India to travel to Saudi Arabia and meet King Salman Middle East