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FINANCIAL NEWS
Saudi to allocate USD4b for labor market annually
05 Aug 2014
(MENAFN) Saudi Arabia’s labor ministry said that the government should spend as much as USD4 billion yearly on improving its labor market and attract Saudis to working in private sector jobs, according to Arabian Business.
Through this plan, the Saudi labor ministry aims to fully employ the Saudi workforce, according to the ministry’s annual statistical report for 2013.
The USD3.97 billion request is not huge compared to the Saudi state budget, which projects spending of USD227.9 billion this year.
The ministry said: “Carrying out employment strategy requires providing the necessary resources to carry out mechanisms within a specific timeframe.”
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