Half The Saudi Population Is Going To Receive Welfare Under This New System
Just a few days after Saudi Arabia’s largest budget ever was announced, the kingdom has paid its first monthly installment as part of its new welfare system.
A total of two billion riyals was paid to low and middle-income families that make up approximately half of the Kingdom’s population.
Half of Saudi population receives welfare in new system. The payments come ahead of the introduction of a 5pc value-added tax on most goods.
— *Dr Barkat SOOMRO* (@DrBarkatSoomro) December 21, 2017
The payments come ahead of the introduction of a 5 percent value-added tax on most goods, like food and services, as well as subsidy cuts that will raise the price of electricity and gasoline next year.
Approximately 3 million families (reaching around 10.6 million beneficiaries) have benefited from this program.