Saudi Arabia allocates 5.33 bln USD against rising global prices

By Elydf

RIYADH, July 4 (Xinhua) -- Saudi Arabia announced on Sunday the allocation of 20 billion Saudi riyals (5.33 billion U.S. dollars) to cushion citizens from rising global prices.

The announcement came through an order by Saudi King Salman bin Abdulaziz Al Saud for families who might be affected, the Saudi Press Agency reported.

The amount includes 10.4 billion riyals of direct cash transfers to social security beneficiaries in the Citizen Account Program and the Small Livestock Breeders Support Program.

The remaining will be used to maintain the strategic reserves of basic commodities.

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