Royal Decree to Allocate SR20 Billion to Address Repercussions of Rising Global Prices, including SR10 Billion for Social Insurance Beneficiaries and Citizen Account Program

Monday 1443/12/5 - 2022/07/04
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Riyadh, July 04, 2022, SPA-- Emanating from the keenness of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, for the citizens to protect the beneficiary families from the repercussions of the effects of global price hikes, and based on what was submitted by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Chairman of the Council of Economic and Development Affairs, in light of a study by the Council of Economic Affairs chaired by HRH the Crown Prince on the developments in the economic conditions worldwide and ways to protect the citizens members of the beneficiary families from being affected by its repercussions, a Royal Decree was issued approving the allocation of SR20 billion as a financial support to confront the repercussions of rising prices globally, including SR10.4 billion to be distributed as direct cash transfers to support social security beneficiaries, the Citizen Account Program, and the Small Livestock Breeders Support Program, with the rest of the amount allocated to increase strategic stocks of basic commodities and ensure their abundance.
The Royal Decree stated as follows:
First: Allocating SR2 billion to distribute an additional one-time salary to social insurance beneficiaries for the current fiscal year 1443-1444, 2022 AD.
Second: Re-opening the registration for the Citizen Account Program, per previously announced regulations.
Third: Allocating SR8 billion as additional financial support to the beneficiaries of the Citizen Account Program till the end of the current fiscal year, per previously announced regulations.
Fourth: Allocating SR408 million as financial support to the beneficiaries of the small livestock breeders program.
--SPA
21:01 LOCAL TIME 18:01 GMT
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