Showing posts with label Saudi cuts ministers’ salaries by 20 per cent. Show all posts
Showing posts with label Saudi cuts ministers’ salaries by 20 per cent. Show all posts

Monday, September 26, 2016

Saudi cuts ministers’ salaries by 20 per cent


Saudi Arabia’s King Salman on Monday cut cabinet ministers’ salaries by 20 percent and reduced other state officials’ benefits in a continuing austerity drive to cope with lower oil revenues.
The 160 members of the Shura Council, who include 30 women, will see a 15 percent drop in their annual allowances for housing, furniture and cars, a royal decree said.
Council members are appointed by the king to advise cabinet.
The decrees which announced the measures did not say how much money would be saved.
Since 2014 global oil prices have collapsed by more than half, leaving Saudi Arabia with a record deficit last year.