Saudi Vision 2030

Specifically in the construction sector, there have been complaints of late/non-payment

Abdullah Al-Hussain, minister of water and electricity relieved from his duties following public outcry about high prices

Progressive increase on prices of water. The top segments paying about 60 times what the bottom segments pay.

Put an end to financial scholarships that were granted to students to enter private universities because of the inability of public universities to accommodate them

Structural adjustments for efficiency

A historic move to tax underdeveloped land (2.5%) to solve housing problems

Government plans to release 5% of Aramco to the public

One of the biggest Saudi construction giants has massive financial difficulties, namely: unpaid salaries, debts

64% of unemployed Saudis are women. 83% of employed are men

Many allowances are completely removed, others are amended and reduced.

15% reduction in allowances for furniture and car fees

Cut Minister salaries by 20%, Consultative council by 15%, also cut many of their allowances

Military personnel involved in the Yemen War and in other military, intelligence, and security missions abroad are excluded

One year stopping of car insurance payments

Insurance payments previously made for landlines and cellphones are lifted

No public sector bonuses will be given

A massive cash injection by the Saudi Arabia Monetary Agency to address banking liquidity difficulties

First cut in production since 2008, from 33.5m barrels/day to between 32.5m b/d and 33m b/d

This shift from the Hejri calendar to the Gregorian calendar will cost each employee about half a month of pay every year because the Gregorian calendar year is about 11 days longer than the Hejri.

Raise the requirements for government sponsored study abroad. Ex: only to top 50 schools, in specific majors, exceptionally high high school achievement required

Gov ensures that delayed payments to private sector, namely construction firms, medical organizations, foreign consultancies will be made soon.

Saudi Binladen Group, a construction giant dismisses many workers following a stop in government construction projects and delayed payments

Expected 7.7% of GDP, $53 billion

A direct fund transfer system, to start in June 2017, to act as the primary means of providing government support to citizens

The 80% subsidy on long shelf life imported dairy products that the government paid in the past was lifted.

VAT on soda (50%) and tobacco (100%)

This policy, set for implementation in the coming month, will raise electricity bills by 163% on average. Some users will see an increase of up to 280% of their past bills.

A VAT of 5% will be levied on all products and services, with some basic goods excluded