Saudi Arabia Will Give Cash to Poorer Citizens Hit by Austerity

  • Kingdom’s cash transfer program scheduled to start on Dec. 21
  • Smooth implementation key to avoid shock to citizens, economy

A woman browses food products in a grocery store in Jeddah, Saudi Arabia, on Sunday, Aug. 6, 2017. 

Photographer: Tasneem Alsultan/Bloomberg
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Saudi Arabia will begin cash transfers to low- and middle-income citizens this month, part of efforts to cushion the blow for families as the kingdom overhauls its oil-dependent economy.

Monthly cash payments will start on Dec. 21 to compensate Saudis affected by measures including subsidy cuts and new taxes, officials said Tuesday. The cabinet approved the so-called Citizen’s Account program, which will be reviewed quarterly, at the same time it ratified changes to the prices of fuel and electricity, planned for the first quarter next year.