Home / Business / Saudi Arabia to launch cash-transfer program for citizens

Saudi Arabia to launch cash-transfer program for citizens

An official source stated that the Saudi government will announce the launch of a cash-transfer program for its citizens on Tuesday. This is meant to help low and middle-income families cope with the costs of economic reform.

The government had announced last December that they are planning to put this program into effect as changes in reforms including raising fuel prices, wage changes and public sector allowances have effected the income of a lot of families.

More reforms are expected to take place with the government aiming to strengthen its financial conditions in light of low oil prices.

In a statement issued in December, the government confirmed that it will provide cash amounts to its citizens, and that the first payments will be given before the next surge in energy prices.

These payments will differ depending on the size and income of each family. For example, the government estimated that a family of six with an income of about $2,320 (8,699 SR) would primarily receive monthly aid of 1,200 SR.

Source: Al-Arabiya

Check Also

Erdogan warns Russian forces advancing in Syria

Turkey’s President Tayyip Erdogan said on Wednesday a Turkish military operation to push back a …

Leave a Reply

Your email address will not be published. Required fields are marked *