Find out the reasons for the Ministry of Finance to suspend the “high cost of living” allowance

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It was approved by the country two and a half years ago, because of high inflation

Yesterday’s decisions of the Ministry of Finance were in line with the general state of the world economy, which is suffering from the Corona pandemic.

These decisions were led by stopping the cost of living allowance, which was costing the Saudi budget nearly 50 billion riyals annually, as the government approved it temporarily two and a half years ago, at a time when inflation levels were high and oil prices were high, and for the sake of people getting used to an optimal consumption pattern, but with this challenge The great economist had to be reconsidered, and given the economic conditions in the world and the decline in living standards, the purpose of the allowance was removed, and measures had to be taken to stop the budget deficit.

Economists worldwide estimated the size of the losses to be incurred by the global economy due to the Corona pandemic, at $ 5 trillion.

According to “Bloomberg”, “The world is entering the largest economic recession in the peace period since the 1930s, as many governments have specifically ordered companies to suspend their activities, and have also instructed people to stay in their homes.”

Despite the economic recession that prevails in the world, the Kingdom did not touch the salaries of employees, and the suspension was inevitable for the additional support represented by the high cost of living. With the salaries and allowances of its employees, and it never happened to be late for spending on schedule, and here they are all employees receive their full salaries despite not going to work.

living expense

Find out the reasons for the Ministry of Finance to suspend the “high cost of living” allowance

Already

Yesterday’s decisions of the Ministry of Finance were in line with the general state of the world economy, which is suffering from the Corona pandemic.

These decisions were led by stopping the cost of living allowance, which was costing the Saudi budget nearly 50 billion riyals annually, as the government approved it temporarily two and a half years ago, at a time when inflation levels were high and oil prices were high, and for the sake of people getting used to an optimal consumption pattern, but with this challenge The great economist had to be reconsidered, and given the economic conditions in the world and the decline in living standards, the purpose of the allowance was removed, and measures had to be taken to stop the budget deficit.

Economists worldwide estimated the size of the losses to be incurred by the global economy due to the Corona pandemic, at $ 5 trillion.

According to “Bloomberg”, “The world is entering the largest economic recession in the peace period since the 1930s, as many governments have specifically ordered companies to suspend their activities, and have also instructed people to stay in their homes.”

Despite the economic recession that prevails in the world, the Kingdom did not touch the salaries of employees, and the suspension was inevitable for the additional support represented by the high cost of living. With the salaries and allowances of its employees, and it never happened to be late for spending on schedule, and here they are all employees receive their full salaries despite not going to work.

May 11, 2020 – Ramadan 18, 1441

04:39 PM


It was approved by the country two and a half years ago, because of high inflation

Yesterday’s decisions of the Ministry of Finance were in line with the general state of the world economy, which is suffering from the Corona pandemic.

These decisions were led by stopping the cost of living allowance, which was costing the Saudi budget nearly 50 billion riyals annually, as the government approved it temporarily two and a half years ago, at a time when inflation levels were high and oil prices were high, and for the sake of people getting used to an optimal consumption pattern, but with this challenge The great economist had to be reconsidered, and given the economic conditions in the world and the decline in living standards, the purpose of the allowance was removed, and measures had to be taken to stop the budget deficit.

Economists worldwide estimated the size of the losses to be incurred by the global economy due to the Corona pandemic, at $ 5 trillion.

According to “Bloomberg”, “The world is entering the largest economic recession in the peace period since the 1930s, as many governments have specifically ordered companies to suspend their activities, and have also instructed people to stay in their homes.”

Despite the economic recession that prevails in the world, the Kingdom did not touch the salaries of employees, and the suspension was inevitable for the additional support represented by the high cost of living. With the salaries and allowances of its employees, and it never happened to be late for spending on schedule, and here they are all employees receive their full salaries despite not going to work.

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