HedgeFundLIVE.com — Given all that is going on in the MENA region (Middle East / North Africa) and the fears that it will spread to Saudi Arabia, I thought it made sense to actually list the things that King Abdullah is doing to prevent this from happening. The bulk of the items in the list below are part of the $36bln in spending programs announced by King Abdullah a few weeks ago.
1) King Abdullah has announced structural reforms at the political level including ministerial reshuffling as well as opening a dialogue on a possible move towards a constitutional monarchy.
2) Extension of the inflation allowance for the country’s public servants at an estimated cost of $8.5bln.
3) Increase the budget of the country’s housing fund by approximately $11bln and raise the housing sector budget by $4bln.
4) Raise the capital of the Saudi Credit Fund (SCF) by $8bln to support lending to small and medium businesses and cancel two yearly installments for clients of the credit bank.
5) Inject an additional $270mln into the budget of the Social Security Fund.
6) Increase the budget of charitable organisations by 50% as well as inject $2.5mln to every literary club and professional association as well as providing increased support to sports clubs.
Click Here for remaining six items.
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