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King Salman Approves Allocation of 20Bln Riyals to Confront Rising Costs

Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
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King Salman Approves Allocation of 20Bln Riyals to Confront Rising Costs

Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)

Custodian of the Two Holy Mosques King Salman bin Abdulaziz approved on Monday the allocation of 20 billion riyals to help confront the impact of rising costs around the globe.

The move stems from his keenness on Saudi citizens and aims to protect neediest families as they cope with rising costs, reported the Saudi Press Agency.

Crown Prince Mohammed bin Salman had earlier on Monday stressed the need to take into account the neediest citizens as they grapple with international developments that resulted in rising costs of some basic necessities.

The Crown Prince made his remarks as he chaired a meeting of the Council of Economic and Development Affairs.

According to King Salman’s approval, 10.5 billion riyals will be allocated as direct cash transfers to social security beneficiaries and the Citizen Account program.

The remaining funds will be dedicated to increasing strategic reserves of basic necessities and ensuring their availability.

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Gulf

Saudi, Thai Foreign Ministers Co-Chair First Saudi-Thai Coordination Council Meeting

The convening of this meeting underscores the advancing relations between the governments of Saudi Arabia and Thailand - SPA
The convening of this meeting underscores the advancing relations between the governments of Saudi Arabia and Thailand - SPA
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Saudi, Thai Foreign Ministers Co-Chair First Saudi-Thai Coordination Council Meeting

The convening of this meeting underscores the advancing relations between the governments of Saudi Arabia and Thailand - SPA
The convening of this meeting underscores the advancing relations between the governments of Saudi Arabia and Thailand - SPA

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and Minister of Foreign Affairs of Thailand Maris Sangiampongsa co-chaired the first meeting of the Saudi-Thai Coordination Council in Bangkok on Thursday.
The convening of this meeting underscores the advancing relations between the governments of Saudi Arabia and Thailand, aiming to enhance coordination and collaboration across various sectors to fulfill the aspirations of both nations' leaders and peoples. This aligns with the shared objectives of the Saudi-Thai Coordination Council, focusing on enhancing cooperation, connectivity, and integration between the two countries through the council and its subcommittees in areas such as politics, security, defense, energy, economy, investment, education, culture, tourism, and other mutual interests, SPA reported.
During the meeting, the co-chairs reviewed the bilateral relations and emphasized the significance of sustained joint efforts between the two friendly nations. They expressed contentment with the outcomes of the committee sessions, which produced over 70 joint initiatives spanning various fields.
They highlighted the importance of upholding and advancing the council's work and collaboration among its committees while reinforcing coordination to amplify its effectiveness as an institutional mechanism framing bilateral cooperation. They also underscored the importance of implementing the recommendations and initiatives of the committee heads with the support of the council's general secretariat, looking forward to the upcoming second council meeting in Saudi Arabia.
At the conclusion of the meeting, the two ministers signed the minutes of the first meeting of the Saudi-Thai Coordination Council.
Following the meeting, the two sides signed a cooperation program between the Saudi Ministry of Foreign Affairs, represented by the Prince Saud Al-Faisal Institute for Diplomatic Studies, and the Thai Ministry of Foreign Affairs, represented by the Devawongse Varopakarn Institute of Foreign Affairs (DVIFA).