Saudi Arabia releases SAR 2 bln under Citizen’s Account program

11/01/2018 Argaaam

 

Saudi Arabia has released the second installment of SAR 2.1 billion as financial support for registered beneficiaries under its Citizen’s Account program for January, Asharq Al-Awsat reported on Wednesday, citing program director Ali Rajhi.

 

The total support to beneficiaries under the program has reached SAR 4 billion. The first round of payment was disbursed in December 2017.

 

Nearly 800,000 families received support exceeding SAR 900 in the second round, Rajhi said. Beneficiaries included around three million independent families and individuals, and 7.9 million heads of households, totalling 11 million.

 

The third payment will be deposited on Feb. 10 for those who completed their applications by Jan. 10.

 

The Citizens Account program aims to protect households from the direct and indirect impacts of economic reforms such as subsidy cuts and the introduction of value-added tax (VAT).

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