CSC Praises Royal Decrees to Help Saudis Adjust to Economic Reforms

 Officials of the Council of Saudi Chambers (CSC) praised the royal decrees issued by Custodian of the Two Holy Mosques King Salman bin Abdulaziz to help citizens adjust to the current economic reforms in the Kingdom of Saudi Arabia.

CSC Chairperson Eng. Ahmed Al Rajhi commended the efforts of the Saudi leadership, embodied in King Salman and Crown Prince Mohammed bin Salman, to reform the Saudi economy while ensuring good living standards of citizens in the process, adding that the decrees include a financial support package that targets government staff, military personnel, pensioners, and students, and covers housing, healthcare, and education. He stated that CSC will follow suit by issuing an allowance for its members.

CSC Vice Chairperson Dr. Sami Al Obaidy described the royal decrees as an indication of the Saudi leadership’s keenness on ensuring good living standards for citizens, adding that the news instigated hope and optimism towards the future of the country and its economy.

For his part, Vice Chairperson Muneer bin Saad added that the royal decrees reflect the institutional approach of the Kingdom in its economic policies, stating that the financial package will help citizens adjust to the newly introduced value-added tax and hike in fuel and electricity. He described the allowance for the military personnel serving at the Yemen frontlines as an appreciation for their efforts to ensure the safety and stability of the country, adding that he expects for the royal decrees to increase trade activity by enhancing the purchasing power and living standards of the citizens.

CSC Secretary General Dr. Saud Al Meshari commended the Saudi leadership for listening to the concerns of citizens, adding that the royal decrees show that citizens are the focus of the Saudi Vision 2030. He noted that re-introducing the annual allowance indicate that the Kingdom is adopting successful policies via the Council for Economic and Development Affairs (CEDA).

CSC officials conveyed the appreciation of the Saudi private sector and its institutional bodies, represented in CSC and Chambers of Commerce and Industry, for the newly issued royal decrees, wishing the Kingdom more prosperity under its wise leadership.