King Salman bin Abdulaziz Al Saud of Saudi Arabia knows how to take the hearts of his people. Leader who was installed on January 23, it issued a decree to distribute bonuses to its people. Pretty fantastic value, ie the range of USD 32 billion.
"Now this population Saudi Arabia (Saudi Arabia, Red) was partying," said Director of the investment company Ashmore Group based in Riyadh John Sfakianakis.
Since ascending the throne, King Salman has become public discussion. He immediately took control and make changes. Including firing ministers and remove some bodies and government agencies.
Latest decision to pour budget in most of the citizens of Saudi Arabia is immediately made his name into a conversation everywhere. In 2011 the late King Abdullah has also been issued bonus. However, it was only a one-time salary.
The government of Saudi Arabia is famous for its abundant wealth from oil exports to various parts of the world. However, during the gold coffers just rushing to her own family. Most of the course is a member of the royal family. Therefore, the generosity of King Salman to give a bonus it is considered as a gesture of good faith to the people of Arabia.
Budget of USD 32 billion was used to provide grants to professional associations, sports clubs and literature, investment in the field of electricity and water, as well as two times salary bonus to all government employees, soldiers, pensioners, and students who receive scholarships from the government, both in the and abroad.
Some private companies also follow suit. They provide twice the salary bonuses to their employees Saudi nationals.
In Saudi Arabia there are 5.5 million workers. As many as 3 million people of whom work in government. Civil service pay per month on average to reach $ 2,400. Plus bonus salary plus two times his salary. Salary those who have worked for years to reach more than $ 4,800 per month.
Of course, people happily welcomed the extra money they get it. There is a direct buy the latest mobile phones, branded bags, stroll abroad, buying jewelry, and pay off the debt. Some men put aside the bonus money to get married. Whether it's for the first time, the second, or third. In essence, the Saudis were excited to find ways to spend money shock derived from the royal decree issued by King Salman is.
"The first thing I did (after hearing the bonus, Red) is to go and check warehouse inventory," said the owner of the shop equipment in Buraida Abdulrahman Alsanidi camp. He hopes, with the bonus in almost all walks of life, it can increase sales in its stores 30 percent.
Pros and cons of the bonuses is still there. Jadwa Investment analyst Friend Alsheikh revealed that 90 percent of government revenues come from oil. The fall of the price of black gold make revenue fell 20 percent. Jadwa Investment predicts that the government deficit to $ 44.5 billion this year. With the bonus of spending, the deficit could grow to $ 67.2 billion. However, the Saudi government does not seem to care. Therefore, they have a $ 700 billion foreign exchange reserves.
source: nytimes.com
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