Saudi Arabia to cut public sector wages and subsidies by 2020 | The National

Saudi Arabia plans to cut public-sector wages as well as subsidies by 2020, scaling back the state largess that helped ensure political loyalty in the largest Arab economy.

The Saudi cabinet approved the National Transformation Program, part of the Vision 2030 plan unveiled by deputy crown prince Mohammed bin Salman in April. Its targets include reducing public-sector wages to 40 per cent of spending by 2020, from 45 per cent today. Public debt is seen climbing to 30 per cent of economic output from 7.7 per cent currently.

via Saudi Arabia to cut public sector wages and subsidies by 2020 | The National

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