RIYADH: The Saudi government will reportedly no longer subsidise seven services, on top of its new visa regime, from October 2. The services including ports, passports, driving licenses, car transfers, traffic violations, the renewal of residency permits for domestic workers and customs protection for 193 commodities, according to Arab News. The price rises will come on top of those approved for municipal services in August.
Saudi’s Ministry of Municipal and rural Affairs has been given 90 days to implement the decision and will be able to delay or stop municipal charges in some cases, according to the publication. The kingdom is looking to raise non-oil revenues and plug a budget deficit estimated to reach 13 per cent of GDP this year by the International Monetary Fund (IMF).
The IMF expects Saudi economic growth to slow to 1.2 per cent this year, rising to 2 per cent next year. Last month the kingdom announced increases to visa fees and traffic fines to boost its coffers. Under the new system, a two-year multiple entry visa will cost SAR8,000 ($2,133) while a three-month multiple exit and re-entry visa will cost SAR500.
