SAR 500bn social spending package announced by King Abdullah
Custodian of the Two Holy Mosques King Abdullah unveiled on Friday a SR500 billion social spending package that includes a minimum wage and cost-of-living bonus for government workers, unemployment allowances, a boost in housing loans and an increase in health spending.
Here is some of the highlights of the Royal Decree. The royal decrees announced on Friday are:
- A one-time cash payment of two months salary to all government employees, including members of the military, in addition to two months worth of living stipends to Saudis studying under government scholarships.
- A monthly unemployment payment of SR2,000 to the unemployed starting from Nov. 26, the start of the Hijra year 1433.
- The establishment of a minimum wage for Saudi government employees of SR3,000 per month.
- SR250 billion allocated for the construction of 500,000 housing units across the country.
- Establishment of the anti-corruption commission within three months.
- SR16 billion allocated to the Ministry of Health to expand facilities and construct new hospitals.
- An increase in the home-building lending limit at the Real Estate Development Fund from SR300,000 to SR500,000 per loan.
- An increase in loan limits to private hospitals from SR50 million to SR200 million.
- The creation of 60,000 new military jobs under the Interior Ministry.
- Wage increases to military personnel through upgrading each memberâ€™s pay grade by one step.
- Expanding branches of the General Presidency for Scholarly Research and Ifta, including the creation of 300 new jobs.
- SR200 million to the Commission for the Promotion of Virtue and Prevention of Vice for more offices across the county.
- Five hundred new positions at the Ministry of Commerce and Industry to check prices in the market and punish violators.
- The royal decree also includes the promotion of increased Saudization in the private sector. It also includes an order that the Kingdomâ€™s media organizations refrain from criticizing religious leaders.
- Source : Arabnews.com