HomeSaudi ArabiaSaudi Arabia allocates SR20 billion to face rising prices in the Kingdom

Saudi Arabia allocates SR20 billion to face rising prices in the Kingdom


RIYADH, 5 July – Custodian of the Two Holy Mosques King Salman issued a royal order approving an allocation of SR20 billion to face rising global prices, including SR10 billion for beneficiaries of social security and the Citizen Account Program.

The directives were issued based on a recommendation of the Crown Prince Mohammed Bin Salman, who in his capacity as the President of the Council of Economic and Development Affairs (CEDA), submitted to King the recommendation.

The amount includes SR10.4 billion allocated in direct cash transfers to the beneficiaries of the social security system, Citizen’s Account Program and the Small Livestock Breeder Support Program.

The remainder will be directed to increasing the strategic stock of basic materials to ensure their availability.

Under King Salman’s order, a total of SR2 billion will be allocated for the payment of an additional pension to be disbursed once only for the social security system beneficiaries in 2022.

Registration in the Citizen’s Account Program will be reopened in line with the previously announced regulations.

Moreover, a total of SR8 billion will be directed as an additional financial support for beneficiaries from the Citizen’s Account Program for the rest of 2022, based on the previously announced regulations.

Beneficiaries from the Small Livestock Breeder Support Program will be allocated a financial support of SR408 million. — Saudi Gazette


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