RIYADH, May 15 — Juggling two mortgages and part-time jobs, Saudi academic Abdullah finally came close to building his own home, but the kingdom's coronavirus-triggered austerity drive has dealt a crushing blow to his dreams. Saudi Arabia has announced a tripling of its value added tax from July...
A woman walks in the nearly deserted Hayat mall in the Saudi capital Riyadh, after the lockdown measures against Covid-19 were partially eased by the authorities May 14, 2020. — AFP pic
The changing fortunes could fuel public resentment and pile strain on a decades-old social contract whereby citizens were lavished with subsidies and tax-free handouts in exchange for loyalty to the absolute monarchy. “Expensive construction material has become more costly with triple VAT,” said Abdullah, who is now uncertain whether his house will ever be built.Few Saudis are likely to openly speak out amid growing nationalism and a strident crackdown on dissent.But many citizens are nostalgic for what Saudi expert Karen Young calls the “magic decade” between 2003 and 2014, when the kingdom accrued spectacular oil wealth that funded a generous welfare state.
The kingdom also risks becoming less competitive compared to other Gulf states which introduced VAT at the same time but have so far refrained from raising it beyond five per cent. But the government is careful not to cut public jobs and salaries amid already high youth unemployment.
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