Saudi Citizens: Arab Emirates and Muslim Pilgrimages

saudi citizens: Despite efforts to diversify the economy, the kingdom continues to rely heavily on oil for revenue, according to CTV. Brent crude now hovers around 30 a barrel, far below the range Saudi Arabia needs to balance its budget. Saudi citizens will also lose a bonus cost-of-living allowance that had been in place since 2018, according to the country's finance minister. The kingdom has also lost revenue from the suspension of Muslim pilgrimages to the holy cities of Mecca and Medina, which were closed to visitors due to the virus. The United Arab Emirates said Monday it currently had no similar plans to raise taxes. Newsletter sign-up Get The COVID-19 Brief sent to your inbox The new measures are the most drastic yet by a major Gulf Arab oil producer since oil prices plunged by more than half in March, signalling that neighbouring countries may also seek to impose higher taxes on residents this year. (www.immigrantscanada.com). As reported in the news.