Saudi royal decree guarantees allowances to cover cost of living for new fiscal year

King Salman
King Salman

King Salman

:: A royal decree by Saudi Arabia’s King Salman ordered the continuation of allowances covering the cost of living for civil sector employees for the new fiscal year on Tuesday.

The decree states that 1,000 Saudi riyals ($266) would be given to citizens on a monthly basis. This will continue for one year until the study of the social protection system is completed.

Saudi Arabia also announced plans to increase state spending by more than seven percent next year in an effort to spur economic growth, which has been hurt by low oil prices, according to a 2019 budget released by the finance ministry.

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