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Monday, 26 September 2016

Saudi Arabia slashes ministers' pay, cuts public sector bonuses | Reuters

Saudi Arabia slashes ministers' pay, cuts public sector bonuses | Reuters:

"Saudi Arabia will cut ministers' salaries by 20 percent and scale back financial perks for public sector employees in one of the most drastic measures yet by the energy-rich kingdom to save money at a time of low oil prices.

The measures, disclosed in a cabinet statement and royal decree broadcast on state-run Ekhbariya TV on Monday, constitute the first pay cuts for government employees, who make up about two-thirds of working Saudis.

"The cabinet has decided to stop and cancel some bonuses and financial benefits," read a line of text on Ekhbariya, as a minister read to assembled ministers and royals, including King Salman, a list of cuts in various grades in the civil service."



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