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Saudi Arabia Sets Minimum Pay for Saudis in Dentistry, Pharmacy Professions

Saudi Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi. (SPA/File)
Saudi Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi. (SPA/File)
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Saudi Arabia Sets Minimum Pay for Saudis in Dentistry, Pharmacy Professions

Saudi Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi. (SPA/File)
Saudi Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi. (SPA/File)

Saudi Minister of Human Resources and Social Development (HRSD) Ahmed Al-Rajhi issued a ministerial decision approving an amendment to the Saudization guide for dentistry and pharmacy professions.

The move comes as part of the ministry's efforts to provide promising and stable job opportunities for citizens and increase their participation in the labor market, according to Rajhi.

Under the new decision, the minimum pay for Saudis practicing the dentistry and pharmacy professions will be set at SAR 7,000 ($1,800), effective April 11, 2022.

The decision will apply to all private-sector facilities operating in the Kingdom that employ a minimum of three workers in the dentistry profession, provided the competent health authorities accredit them.

In addition, the decision will also apply to all private-sector facilities operating in the market, which have a minimum of five workers in the pharmaceutical profession, provided the competent health authorities accredit them.

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Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
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Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters

The credit rating agency “Moody’s Ratings” upgraded Saudi Arabia’s credit rating to “Aa3” in local and foreign currency, with a “stable” outlook.
The agency indicated in its report that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification and the robust growth of its non-oil sector. Over time, the advancements are expected to reduce Saudi Arabia’s exposure to oil market developments and long-term carbon transition on its economy and public finances.
The agency commended the Kingdom's financial planning within the fiscal space, emphasizing its commitment to prioritizing expenditure and enhancing the spending efficiency. Additionally, the government’s ongoing efforts to utilize available fiscal resources to diversify the economic base through transformative spending were highlighted as instrumental in supporting the sustainable development of the Kingdom's non-oil economy and maintaining a strong fiscal position.
In its report, the agency noted that the planning and commitment underpin its projection of a relatively stable fiscal deficit, which could range between 2%-3% of gross domestic product (GDP).
Moody's expected that the non-oil private-sector GDP of Saudi Arabia will expand by 4-5% in the coming years, positioning it among the highest in the Gulf Cooperation Council (GCC) region, an indication of continued progress in the diversification efforts reducing the Kingdom’s exposure to oil market developments.
In recent years, the Kingdom achieved multiple credit rating upgrades from global rating agencies. These advancements reflect the Kingdom's ongoing efforts toward economic transformation, supported by structural reforms and the adoption of fiscal policies that promote financial sustainability, enhance financial planning efficiency, and reinforce the Kingdom's strong and resilient fiscal position.