Sunday, January 7, 2018

Saudi king orders payouts, bonuses to soften price hikes

By CNBC Jan. 06, 2018

Saudi Arabia's King Salman has authorized a range of bonuses and payouts for citizens, including a monthly payment of 1,000 riyals ($267) for civil servants for the coming year just days after a new tax was introduced and subsidies were lifted on gasoline.

The government said the measures are meant to "ease the burdens" of price hikes on citizens as the state works to restructure its economy amid lower oil prices.


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