Gasoline Prices Just Jumped 127% in Saudi Arabia

[BHarwana]

That seems a bad news, but the good news is the government announced a new economic program for Citizens called "Citizen Account" to help low- and middle-income families cope with the changes, so every citizen and family will be protected economically from the effect of this new hike in fuel prices and will get money on monthly bases even before executing the new pricing of fuel...

‘Citizen Account Program’ to help Saudis face economic changes

Saudi and UAE just also introduced VAT is this signs of Saudi economy being in crisis.

 

[The SC]

Saudi and UAE just also introduced VAT is this signs of Saudi economy being in crisis.

Nope.. there are threads on this forum where you can find what the World Bank said about and to Saudi Arabia.. in brief, that it is doing very goo and that all these new measures should be lessened a bit.. but KSA see it as it fits its comprehensive Vision 2030 program..

 

[HAIDER]

Well, Saudi need to pay the bills too,,,they also imposed VAT. Oil producing countries in great economic danger. Germany and UK has set deadline to end petrol cars and adopting more electrical and environmental friendly vehicles.

 

[BHarwana]

Nope.. there are threads on this forum where you can find what the World Bank said about and to Saudi Arabia.. in brief, that it is doing very goo and that all these new measures should be lessened a bit.. but KSA see it as it fits its comprehensive Vision 2030 program..

I can see what world bank is doing but I can also see Saudi actions. Like making deals under corruption crack down. New VAT coming into force. OIL prices jumping to 127% domestically. Saudi princes getting a welfare cut and Huge bills pilling up in military spending. These all seem desperate actions.