You are here: Home » International » News » Others
Business Standard

Saudi Arabia's King Salman orders new allowances amid rising cost of living

Saudi Arabia roughly doubled gasoline prices as part of a broad reform initiative aimed at diversifying its economy

Stephen Kalin & Andrew Torchia | Reuters 

Saudi Arabia's King Salman on Saturday ordered a monthly payment of 1,000 riyals ($267) to state employees over the next year in compensation for rising cost of living after the government hiked domestic gas prices and introduced value-added tax (VAT). 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. Saudi Arabia, the world's top oil exporter, roughly doubled gasoline prices on Monday as part of a broad ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Sun, January 07 2018. 02:11 IST
RECOMMENDED FOR YOU