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FinancialNews
25-01-18
KSA: USD13.3bn package to be financed through crackdown settlements
(MENAFN) Saudi Finance Minister Mohammed al-Jadaan revealed cash settlements acquired during a corruption crackdown are to aide in funding a $13.3 billion package to ease the pressure of living expenses.
The minister explained the package to have been declared at the beginning of this month while King Salman made the announcement.
He also noted that cash obtained from state budget is to also be used to finance the package.
The decision was made amid a crackdown the crown prince ordered in November to clear corrupt personnel, with 95 people currently in custody.
MENAFN2501201800450000ID1096389115
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