Saudi economic crisis

Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. (Photo by Reutrs)

Amid falling oil prices and the coronavirus crisis, Saudi Arabia has decided to resort to tough economic measures to contain the fallout.

Authorities have decided to suspend a cost-of-living allowance for state employees and increase value-added tax.

On Monday, it was announced that the cost of living allowance will be suspended as of June first and value-added tax will rise as of July first.


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