Saudi Government Handouts

Saudi Arabia's finance minister on Monday said the kingdom will triple its Value Added Tax (VAT) and halt monthly handout payments to citizens in new austerity measures amid a coronavirus-led economic slump.

A package of handouts to Saudi Arabian citizens to compensate them for cost of living increases will cost the government about 50 billion riyals ($13.3 billion) this year, the information minister was quoted as saying on Sunday

Saudi Arabia's finance minister on Monday said the kingdom will triple its Value Added Tax (VAT) and halt monthly handout payments to citizens in new austerity measures amid a coronavirus-led economic slump.

A package of handouts to Saudi Arabian citizens to compensate them for cost of living increases will cost the government about 50 billion riyals ($13.3 billion) this year, the information minister was quoted as saying on Sunday