The Kingdom's budget for the year 2018 allocated about 2.5 billion riyals per month to spend on the Citizen Account, the program dedicated to compensating Saudi citizens for the impact of various financial reforms, including the adjustment of fuel and electricity prices and the value added tax, and the beneficiaries of the account expect to disburse financial support through the “Citizen Account” program in the coming days after the approval of the policies and mechanisms of the program, and the approval of the budget allocated to the program, within the framework of the Kingdom's budget.
According to the Kingdom's budget.
Next year's budget stated that “support for the most deserving groups, the budget for the citizen account is expected to be within 32 billion riyals in 2018.”
3.7 billion riyals in 2018.
3.7 million registered in the Citizen Account program
The Cabinet approved the policies of the “Citizen Account” program, in conjunction with the gradual correction of the prices of some energy products and the approval of the consumer protection plan, in light of economic reforms, in which the monthly income of the family is the main criterion in evaluating and studying the need of applicants to benefit from the program.3.7 million people registered for the Citizen Account program. <3.7 million heads of households, including about 13 million citizens, have registered for the program. The first deposit of the amounts due from the program will be made on December 21, with a clear announcement of the amounts and their details, after which the deposit date will be on the tenth of each Gregorian month.
5 target groups of the program
The amounts will be reviewed every 3 months to ensure that the entitlement amount meets the requirements of households according to the changes and criteria, namely the amount of family income, the number of family members and the rate of energy and fuel consumption according to the announced categories, which are divided according to 5 categories:
- Salaries from zero to 8699 riyals
- 8700 to 11999 riyals
- 12000 SAR to 15299 SAR
- From 12000 SAR to 15299 SAR
- 15300 SR to 20159 SR
- Those whose salaries are above 20160 riyals are not eligible for support.
Citizen Account Program is a full compensation:
The Citizen Account Program aims to compensate Saudi citizens with cash amounts up to 100% for the burdens resulting from the implementation of fiscal reforms.
The Citizen Account Program has the ability to compensate Saudi citizens with cash amounts up to 100% for the implementation of fiscal reforms. The Citizen Account program has many features, as it will start with a monthly subsidy amount of 2.5 billion riyals for 2018, and then periodically review the amount of need for support, and accordingly determine the allocated amounts, which may reach a total of 60 billion riyals in 2020.
According to what has been announced, the beneficiary category of this account will not be rigid or fixed, but will go in parallel with its nature subject to economic and developmental variables and periodic evaluation of those enrolled in it.
According to what has been announced, the beneficiary category of this account will not be rigid or fixed, but will go in parallel with its nature subject to economic and developmental variables and periodic evaluation of those enrolled in it.
Targeted Forms of Support
Citizen Account provides government financial support to:
- Saudi families.
- Independent individuals.
- Mobility card holders.
- Saudi mother married to a foreigner.
It is noteworthy that the Kingdom seeks, through the fiscal balance program, to disburse support to its real beneficiaries, based on realistic information rather than hypothetical information based on estimated studies, and the Kingdom relies on the information provided by citizens themselves in all development plans, as it is a great wealth of information, without any impact on taxes, accounting or others.
The Kingdom relies on the information provided by citizens themselves in all development plans, as it is a great wealth of information, without any impact on taxation, accounting or others.
