King Salman Magnanimously Allocates SR20 Billion to Resolve the Issue of Rising Prices

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King Salman, Custodian of the Two Holy Mosques, issued a royal order approving an allocation of SR20 billion to face rising global prices.

Jeddah — Custodian of the Two Holy Mosques, King Salman issued a royal order approving an allocation of SR20 billion to face rising global prices.

This King Salman’s allocation includes SR10 billion for beneficiaries of social security and the Citizen Account Program.

The issued directives are based on recommendations by Crown Prince Mohammed Bin Salman. Who, as the President of the Council of Economic and Development Affairs (CEDA), submitted the proposals to the King.

The allocated amount includes SR10.4 billion in direct cash transfers to the beneficiaries of the social security system. It is also for the Citizen’s Account Program and the Small Livestock Breeder Support Program.

The remaining allocation will fund the raising of strategic stock of primary necessities to ensure their availability.

Under King Salman’s order, a total of SR2 billion will be allocated to pay an additional pension. This extra pension amount will be disbursed once for the social security system beneficiaries in 2022.

The Citizen’s Account Program will reopen for registration in line with the previously announced regulations.

Moreover, additional financial support of SR8 billion is earmarked as support for beneficiaries from the Citizen’s Account Program for the rest of 2022, based on the previously announced regulations.

Beneficiaries of the Small Livestock Breeder Support Program will receive financial support of SR408 million.

10% Discount on 1 Bed 2 Beds 3 Beds 4 Beds Apartments