Riyadh – Saudi Finance Ministry has revealed that restoring allowances for the state personnel take place by the end of May.
Finance Minister Mohammed Al-Jadaan said in Monday’s statement that the ministry received inquiries from local media means on the application date of the royal order of Custodian of the Two Holy Mosques King Salman bin Abdulaziz in restoring allowances for state personnel – Jadaan added that the ministry will cooperate with public authorities to include the allowances with the salary of the 30th of Sha’aban.
King Salman issued on Saturday a royal decree to restore financial allowances for civil servants and military personnel.
This decree stems from the recommendation of Saudi Deputy Crown Prince and Minister of Defense and President of Council of Economic and Development Affairs Mohammed bin Salman.
The order was issued at a time when state revenues were deteriorating due to the huge drop in oil prices – oil is considered the main supplier of the state revenues. The Council of Economic and Development Affairs took several policies, initiatives and programs to control the expenditure and to arrange priorities.
This coincided with revising the strategy of the Public Investment Fund of Saudi Arabia and its investments in the country and abroad for the purpose of diversifying income sources and limiting dependency on oil as a main supplier of the state revenues.
Overall, this contributed in achieving purposes of enhancing state revenues and reducing deficit in the budget in light of Saudi Vision 2030.