– New King Orders $29 Billion ‘Handouts’, Tells Saudi People: “You Deserve More” (ZeroHedge, Feb 2, 2015):
Because nothing says “we really do fear social unrest… and please stick with the new king” like Saudi Arabia spewing a massive $29.3 billion spending program that include lavish payments of two months bonus salary to all Saudi state employees and a series of subsidies. As al-Arabiya reports, King Salman bin Abdulaziz has issued a number of decrees because – as he wrote on Twitter (which you may remember is considered “the source of all evil” by the Grand Mufti of Saudi Arabia) “Dear Citizens, you deserve more,” adding “do not forget to include me in your prayers.”
Saudi Arabia’s newly inaugurated King Salman bin Abdulaziz has issued a series of landmark orders that ushered in fresh new faces into state institutions and awarded financial support for many Saudis.
And the king ordered a total of $30 billion (112 billion Saudi Riyals) spending in the oil rich kingdom.
The king ordered a lavish payout to all state employees on Thursday and reshuffled some top government jobs while keeping in place the oil, foreign, finance, defense and interior ministers.
The top oil exporter will pay two months bonus salary to all state employees and pension to retired government workers, he said in a series of decrees read aloud on state television a week after Salman succeeded his brother Abdullah as king.
Included in the handouts was $5.3 billion (20 billion riyals) pledged in subsidies for electricity, water, and housing.
And in a commitment to the arts, King Salman pledged $267,000 for each art club in the kingdom.
There was also good news for students, people with special needs and those on social welfare who will also receive two months income.
* * *