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Saudi Arabia cuts ministers’ salaries, reduces public sector bonuses

Saudi Arabia is cutting the salaries of cabinet ministers by a fifth and freezing wages of lower-ranking civil servants to offset lower oil revenues. Officials are not saying how much money the moves will save, but the Saudi government plans to diversify the country’s economy away from oil and streamline government services by 2030. The plan aims to boost private sector employment and cut the government payroll to 40 percent of the budget by 2020 from 45 percent today.

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