Saudi Arabia’s King Salman issued a royal decree on Saturday restoring financial allowances for civil servants and military personnel that had been cut under austerity measures.
“The royal order returns all allowances, financial benefits, and bonuses to civil servants and military staff,” said the decree, broadcast on state-run Ekhbariya TV.
In September Saudi Arabia cut ministers’ salaries by 20 percent and scaled back financial perks for public sector employees in one of the energy-rich kingdom’s most drastic measures to save money at a time of low oil prices.
You've reached your daily free article limit.
Subscribe and support our veteran writing staff to continue reading.
Saudi Arabia’s King Salman issued a royal decree on Saturday restoring financial allowances for civil servants and military personnel that had been cut under austerity measures.
“The royal order returns all allowances, financial benefits, and bonuses to civil servants and military staff,” said the decree, broadcast on state-run Ekhbariya TV.
In September Saudi Arabia cut ministers’ salaries by 20 percent and scaled back financial perks for public sector employees in one of the energy-rich kingdom’s most drastic measures to save money at a time of low oil prices.
The measures were the first pay cuts for government employees, who make up about two-thirds of working Saudis.
The decree canceled those orders, saying they had come as a response to the sharp drop in the price of oil, the main source of state revenues.
Oil prices sank to a low of around $28 last January amid a two-year price slump. Since late 2016, however, prices have partially rebounded, with Brent crude LCOc1 now trading around $52 a barrel compared to last year’s average of $45.
Read the whole story from Reuters.
Luigi Mangione, Suspect in UnitedHealthcare CEO Murder, Held in Custody in PA
Inside Delta Force: America’s Most Elite Special Mission Unit
Navy SEALs To Rally Behind Pete Hegseth in a March on Washington
Head Coast Guard Chaplain Removed Due To Knowledge of Sexual Misconduct
What Assad’s Downfall Means for Syria and the Middle East
Join SOFREP for insider access and analysis.
TRY 14 DAYS FREEAlready a subscriber? Log In
COMMENTS
You must become a subscriber or login to view or post comments on this article.