This morning, the Saudi Finance Minister, Muhammad al-Jadaan, released, in a Saudi television statement today, the Saudi position on adjusting the financial compensation for all expatriate workers in the Kingdom of Saudi Arabia.
On the other hand, the Minister of Finance, Al-Jadaan, said that the Saudi government is constantly, and in general, continuing in the new year 2020 to review its initiatives, and there is currently no intention to amend the financial compensation for expatriates, or those accompanying them, and if an amendment occurs, God willing, we will announce it on Immediately upon ratification by King Salman Ibn Abdul Aziz, may God protect him in his time, just as we announced the amendment to the industrial sector after the success of it, he was informed immediately.
In a related context, the Minister of Finance, Muhammad Al-Jadaan, pointed out that Saudi Arabia’s budget figures show that “much has been achieved this year, and we look forward to more in the coming year, whether in infrastructure projects, or services provided to citizens, in addition to enabling the private sector And developing promising sectors. "
While Finance Minister Muhammad Al-Jadaan confirmed targeting the Saudi budget to control the fiscal deficit, explaining that the government’s policies enabled the “decline in the level of the annual deficit from 12% to 9%, then to 5%, and this year we will end up with a deficit of 4.7 At the end of the year 2022, the budget deficit will be around 3%, and we aim in the medium term to have a balance between revenues and expenditures in the budget. ”
On September 24, the Saudi Council of Ministers decided that the state would assume from October 1 last for a period of 5 years the financial compensation prescribed for expatriate workers in industrial facilities licensed under an industrial license.
While the Kingdom of Saudi Arabia has already started applying the "financial compensation" to accompanying expatriate workers, starting from the second half of 2017, at 100 riyals for each facilities per month, and in 2018, fees were applied to the surplus numbers of the number of Saudi labor in each private sector. .
Expatriate labor fees are gradually increased to create jobs for Saudis in high-density sectors of expatriate workers.