*THE WAHABI IS TURNING DOWN into COLAPS ...but ZIONISM IS RISING UP to DEVELOP,* *instead ...* ........
On 26 October 2016 at 21:30, 'Sunny' [email protected] [GELORA45] < [email protected]> wrote: > > > res : *Apa khabar Kemenag, MUI serta FPI cs? Perlu kirim bantuan sebagai > sumbangan untuk melawan kebangkrutan!* > > http://www.thetimes.co.uk/article/lazy-saudis-are-on- > brink-of-bankruptcy-92jdvggln > > Lazy Saudis are on brink of bankruptcy > *Bel Trew, Cairo* > > October 22 2016, 12:00am, The Times > > Saudi Arabia’s government warned that, unless serious action was taken, > the state coffers would soon be emptyReuters > > > Civil servants in Saudi Arabia work only an hour a day and the country > faces bankruptcy in three years unless austerity measures are enforced, > senior officials have warned. > > The bloated public sector, which employs more than 70 per cent of the > workforce, is woefully unproductive, according to Khaled al-Araj, the civil > service minister. He told a TV debate that state employees, many of whom > had little incentive to work, barely put in 60 minutes a day at the office. > > The uncharacteristically blunt and public assessment comes as the country > struggles with falling oil prices. Its budget deficit was nearly $100 > billion last year. > > Last month, public sector salaries, which accounted for half of all > government spending last year, were slashed but Mr al-Araj urged further > cuts given his assessment of civil servants’ timekeeping and work ethic. > > The system was so badly run that wages were paid to government employees > even if they had left their jobs, he said. “It directly and negatively > affects government institutions,” he said on MBC, the Saudi TV network. > Speaking during the same debate Muhammad al-Tuwaijri, Saudi Arabia’s > deputy economy minister, warned that unless serious action was taken the > coffers would soon be empty. “If oil prices keep declining and the Saudi > government does not take action with economic and austerity measures . . . > bankruptcy in the kingdom is inevitable within three to four years,” he > said. > > Abdel Bari Atwan, editor of *Rai al-Youm*, the pan-Arab news website, > called the ministerial comments unprecedented. They caused alarm among > ordinary Saudi Arabians, who are used to government handouts and subsidies, > with several calling for divine intervention to save the country. > > It may also unnerve foreign investors, who this week bought $17.5 billion > of Saudi Arabian debt. They were told that the country would curb its > budget deficit and limit public spending even though officials from Riyadh > promoting the bond sale flew into the US on private jets and held a gourmet > lunch at the luxury St Regis Hotel, in Manhattan, *The **Wall Street > Journal* reported. > > Crude oil prices have fallen from $112 a barrel in 2014 to about $50 today. > > In April Mohammed bin Salman, the deputy crown prince, announced his > Vision 2030 economic plan, which vowed to end the “addiction” to oil and > invest instead in other promising sectors, including tourism. > > In September King Salman released a royal decree cutting the salaries of > ministers by a fifth, including that paid to the crown princes. In the same > decree, which was unprecedented, public sector bonuses were cancelled, paid > overtime was curtailed and annual leave was cut. > > Civil servants’ salaries rose by 74 per cent between 2004 and 2013, which > means that the average civil servant earns about £35,000 a year, according > to a report published last December by McKinsey & Co, the management > consultancy. > > During the TV debate Mr al-Tuwaijri hinted at further cuts to come, saying > that the lion’s share of government spending went on bloated salaries. > > >
