Saudi King declares new steps to raise standards of living

Saudi King

The Saudi king on Wednesday ordered billions of dollars directed into a development fund that helps local purchase houses, get married and start businesses, state TV reported.

The measure was one of several declared by the monarch, who returned home Wednesday after a three-month absence during which he underwent medical treatment in the United States and stayed in Morocco.

Abdullah ordered that 40 billion riyals, say $10.7 billion, be injected into the Kingdom's development fund, Saudi television said. That nearly doubles the original budget of 47 billion riyals.

Other new moves include a 15 per cent cost of living adjustment for government workers and a year of unemployment assistance for youth.