Saudi King Hopes To Feel The Love

Saudi Arabia’s King Abdullah today announced increased funds for housing, studying abroad and social security, according to state television. State employees will see their pay rise by 15%.

The king also ordered an increase of 10.7 billion dollar infusion for the country’s development fund. The fund provides interest-free loans to Saudis who want to build homes, get married or start small businesses.

Measures to support employment growth were previously announced. Unemployment in Saudi Arabia among 15- to 24-year olds is nearly 40%.

Frustrated young people played significant roles in the ousting of long-time rulers in Tunisia and Egypt.


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