RIYADH: Saudi Arabia’s Citizen Account Program deposited SR1.9 billion ($506 million) into the accounts of 10.4 million beneficiaries for April, the Saudi Press Agency reported on Sunday.
Total compensation for the previous instalment, paid retroactively, stood at SR20 million.
The national scheme was created to protect Saudi households from the direct, indirect and expected impacts of the various economic reforms taking place in the Kingdom through monthly cash transfers into their accounts.
The cash transfer program has distributed SR94 billion in payments since it was launched in December 2017.
The program’s spokesman, Sultan Al-Qahtani, said that 76 percent of the total beneficiaries received full benefits, with an average support of SR1,052 per household.
The cost of living supplements for Saudi citizens are based on a household’s total monthly income and the number of people living in the property, as well as their age.
Saudi Citizen Account deposits SR2.6 billion for beneficiariesSaudi Citizen Account deposits SR2.6 billion for beneficiaries