King Abdullah of Saudi Arabia has announced financial support measures, worth an estimated SR135 billion (36 billion US dollar), in a bid to avert the kind of popular unrest that has toppled leaders across the region.
The measures include a 15 percent salary rise for public employees to offset inflation, reprieves for imprisoned debtors (gældsfanger), and financial aid for students and the unemployed.
Despite a prolonged economic surge, unemployment has remained above 10 percent and is cited by government officials as one of their primary concerns.
The most prominent step was the injection of 10,7 billion dollar into a fund that provides interest-free (rentefrie) loans for Saudis to buy or build homes. The move could help reduce an 18-year waiting list for Saudis to qualify for a loan.
Another 4 billion dollar was being put into the General Housing Authority’s budget, while the Saudi Credit & Savings Bank was to get 8 billion in capital. The bank provides loans for marriage and setting up a business, among other things, and is supported by the Saudi government.
Nevertheless, hundreds of people have backed a Facebook call for a Saudi day of rage on March 11 to demand an elected ruler, greater freedom for women and the release of political prisoners.
Saudi analysts said the king might soon reshuffle his cabinet to inject fresh blood and revive stalled reform. On Wednesday, the king announced no political reforms such as municipal council polls (kommunalrådsvalg) demanded by opposition groups
Kilde: www.worldbank.org
