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Friday, 19 August 2016

The Soft Pinch of Austerity in Saudi Arabia Could Backfire - Bloomberg

The Soft Pinch of Austerity in Saudi Arabia Could Backfire - Bloomberg:

"Fahad bin Raja sells cars for a living in Saudi Arabia’s capital. Abdullah Saeed drives them. In the kingdom’s new age of austerity, both men are finding it harder to make ends meet.
Saeed, 63, says his monthly rent of about 2,000 riyals ($560) is covered by social insurance payments, but that leaves the cost of supporting his wife and five of his nine children who live at home. He drives a taxi and his wife sells home-made perfumes. As higher fuel and utility bills eat into his income, he says “it’s getting very hard to earn money in Riyadh.”"



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