Saudi Arabia deposits first installment of two billion Riyals in Citizen Account program
Saudi Arabia has deposited a first installment of 2 billion Saudi Riyals for 82% of those registered in the Citizen’s Account program (CA).
They announced today that the second installment will be made on the 10th of January.
The Citizen’s Account is a national cash transfer program that was first announced by the Government in December 2016 and opened for registrations in February 2017.
It aims to increase the efficiency of government benefits distribution by targeting the less fortunate in society.
Therefore, it eases the direct and indirect impact on low and medium income households resulting from the ongoing economic reforms such as the gasoline price adjustment, the electricity tariffs adjustment, and the value added tax (VAT) on all food and beverage items.
It will also encourage sensible consumption of the aforementioned products.
The criteria specify that the beneficiaries have to be citizens of the Kingdom of Saudi Arabia (with the exception of the son or daughter of a citizen and non-Saudi spouses) and permanently residing in the country.
The entitlement amount for eligible Saudi households will differ depending on three main factors: the total income of the household, number of dependents in that household and their age.
The amount will be reviewed on a quarterly basis to ensure appropriate and adequate support for eligible Saudi households.
The CA amount will not affect any current Government support payments received by the households.