Saudi Arabia unveils first public sector pay cuts

Saudi Arabia unveils first public sector pay cuts
 

Saudi Arabia has unveiled pay cuts for government employees for the first time, as it attempts to further rein in spending at a time of low oil prices.
A royal decree said ministers' salaries would be reduced by 20%, and housing and car allowances for members of the advisory Shura Council cut by 15%.
Lower-ranking civil servants will see wage increases suspended, and overtime payments and annual leave capped.
About two-thirds of working Saudis are employed in the public sector.
Their salaries and allowances accounted for almost half of government spending in 2015, or about $120bn (£93bn),... read more

 
27 September 2016 in World News, Views: 36
Source: BBC
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