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Thursday, February 24, 2011

Saudi king boosts economic benefits to citizens


King Abdullah ordered the economic measures even before his plane touched down on Saudi soil on Wednesday. -- PHOTO: AFP

CAIRO - SAUDI Arabia's king on Wednesday ordered billions poured into a development fund that helps Saudis buy homes, get married and start businesses, state TV reported, as the oil-rich nation warily watches the unrest spreading around the Middle East.

The step appeared aimed at shoring up popular support and fending off unrest that has spread to neighbouring Bahrain, the first nation in the oil-rich Gulf to experience the region's anti-government upheaval. Much of the unrest is linked to poverty as well as demands for more political freedom.


There were signs that the undercurrent of discontent in the kingdom - where King Abdullah and thousands of royals are largely untouchable - could be bubbling to the surface.

A Facebook page calling for a 'March 11 Revolution of Longing' in Saudi Arabia has begun attracting hundreds of viewers. A communique posted on the page, which has been endorsed by over 470 people, calls for 'the ousting of the regime' and lists demands including allowing people to elect their ruler and members of the advisory assembly known as the Shura Council.

Showing just how deep the concern is, King Abdullah ordered the economic measures even before his plane touched down on Saudi soil on Wednesday. The king was returning after a three-month absence for medical treatment in the United States and recuperation in Morocco.

Saudi officials are 'pumping in huge amounts of money into areas where it will have an obvious trickle-down by addressing issues like housing shortages,' said John Sfakianakis, chief economist for the Riyadh, Saudi Arabia-based Banque Saudi Fransi. -- AP

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