Saudi Arabia to hand out billions to ease inflation pain

RIYADH: Saudi Arabia announced Monday it was disbursing billions of dollars directly to citizens to ease the effects of inflation amid growing online expressions of frustration over rising prices.

“A generous royal order was issued approving the allocation of financial support in the amount of 20 billion riyals (around $5.3 billion) to face the repercussions of rising prices globally,” the official Saudi Press Agency reported, attributing the decision to King Salman.

Roughly half that amount would come via direct cash transfers to social security beneficiaries, the SPA report said.