Saudi personal income levels show sharp rise

February 23, 2013

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Riyadh, Feb 23: Saudi Arabia’s per capita income rose 27.2 percent from 2010 to 2011 following an increase of 17.1 percent from 2009 to 2010, according to a report by the Saudi Arabian Monetary Agency (SAMA).

Preliminary figures indicate that expenditure on GDP increased by 31 percent to SR 2.239 billion, “including import duties,” during 2011, said the report. This compares to SR 1.709 billion during 2010. The rise was attributed to a 103.3 percent increase in net exports of goods and services during 2011. This translates into a rise from SR 328.6 billion in 2010 to SR 668 billion in 2011.

Meanwhile, Fadl Bu Aynain, an economic expert, told Asharq Al-Awsat that “what matters in these figures is the constituents of GDP, since an increase in GDP, and hence per capita income, is more reliable when there is diversity of production and a dominance of industrial production.”

He added: “When oil revenues dominate the GDP, this gives a skewed view of economic growth. In other words, the rise of oil prices and the increase in oil output have influenced the total GDP. So we can say that without knowing the details of the factors that contribute to GDP, you cannot have a meaningful picture of the economy.”

He explained: “The economy that depends on royalties may cause major problems in the future, unless the growth in GDP is based on diversifying and broadening the base of industrial and service production.

“This will create jobs, increase real per capita income, and create sustained development, through the private sector, in particular. If that does not happen, Saudi Arabia may face major challenges in fulfilling its obligations in the future in case there were substantial changes in oil prices or in the ratio of exports to the total GDP.”

Tal’at Hafidh, secretary-general of the Commission for Orientation and Education in the Banks, said one of the major causes of inflation in Saudi Arabia is “what we call imported inflation, when the prices of imported goods are hiked for various reasons in the country of origin, or when there are extra expenses added on the goods, like an increase in shipping and insurance costs, etc.”

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News Network
April 21,2024

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Austrian police authorities have arrested the director of a Palestinian news agency based in the Gaza Strip, which is aligned with the Hamas resistance movement, following spurious allegations and intense pressure from the Tel Aviv regime’s officials.

Gaza Now News Network wrote in a post published on the social media platform X, formerly known as Twitter, that “the occupying Israeli regime is trying hard to prosecute anyone connected to the Palestinian media as part of attempts to silence the voice of wounded Gaza and stop disclosure of the Palestinian nation’s sufferings and the massacres being committed against women, children and the elderly.”

It added, “The latest of such attempts was the prosecution of Palestinian-born journalist Mustafa Ayyash. Austrian police stormed his house, tampered with his personal belongings, confiscated electronic devices, arrested him and his wife, and took him for interrogation.”

Gaza Now noted that the Austrian police hacked its WhatsApp account, which is followed by 300,000 users, and closed it down. They also shut the news network’s Facebook pages and accounts, which are followed by some eight million users.

It underscored that Israeli officials threaten Ayyash from time to time with prosecution and assassination, and hamper the activities of the news network on social media platforms.

This comes as the Israeli military had earlier targeted Ayyash's family and killed scores of his relatives in a series of airstrikes in late November ahead of a temporary ceasefire.

The Permanent Observer of Palestine at the United Nations Salah Abdel-Shafi and Chairman of Hamas Political Bureau Ismail Haniyeh mourned the death of his family.

Back on March 27, US and UK authorities unveiled sanctions against two people and three companies related to Gaza Now over alleged fundraising efforts “in support of Hamas.”

The Treasury Department said in a statement that Gaza Now, whose popular Telegram channel has more than 1.8 million followers, and its founder started fundraising for Hamas after the movement’s Operation al-Aqsa Storm against Israel on October 7.

The US also slapped sanctions against Aozma Sultana, the director of two companies that allegedly gave “thousands of dollars to Gaza Now and advertised Gaza Now as a partner during a joint fundraiser shortly after the large-scale surprise attack.”

Separately, the UK Treasury announced a full asset freeze against two individuals suspected of providing financial support for Gaza Now.

“All funds and economic resources in the UK belonging to or controlled by Sultana and Ayyash have been frozen,” they added.

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News Network
April 14,2024

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Tehran: Iran’s Islamic Revolution Guards Corps (IRGC) has launched “extensive” retaliatory missile and drone strikes against the occupied territories in response to the Israeli regime’s terrorist attack of April 1 against the Islamic Republic’s diplomatic premises in the Syrian capital Damascus.

The Corps announced launching the strikes in a statement on Saturday night, defining the mission as "Operation True Promise."

“In response to the Zionist regime’s numerous crimes, including the attack on the consular section of Iran’s Embassy in Damascus and the martyrdom of a number of our country’s commanders and military advisors in Syria, the IRGC’s Aerospace Division launched tens of missiles and drones against certain targets inside the occupied territories,” the statement read.

Iran's Defense Minister Brigadier General Mohammad Reza Ashtiani, meanwhile, warned that “Whatever country that could open its soil or airspace to Israel for a [potential] attack on Iran, will receive our decisive response.”

The Israeli attack had resulted in the martyrdom of Brigadier General Mohammad Reza Zahedi, a commander of the IRGC's Quds Force, his deputy, General Mohammad Hadi Haji Rahimi, and five of their accompanying officers.

The terrorist attack drew sharp condemnation from senior Iranian political and military leaders, who vowed "definitive revenge."

During a speech in Tehran on Wednesday after leading the Eid al-Fitr prayers, Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei said the Israeli regime “must be punished and will be punished” for the deadly strike on the Iranian diplomatic premises.

The Leader added, “The evil Zionist regime committed another mistake ...  and that was the attack on the Iranian consulate in Syria. The consulate and diplomatic missions in any country are considered to be the territory of that country. When they attack our consulate, it means they have attacked our soil."

In a subsequent statement, the IRGC said the retaliation came after 10 days of "silence and neglect" on the part of the international organizations, especially the United Nations Security Council, to condemn the Israeli aggression or punish the regime in line with Article 7 of the UN Charter.

Iran then resorted to the retaliatory strikes, the Corps added, "using its strategic intelligence capabilities, missiles, and drones" to attack "targets of the Zionist terrorist army in the occupied territories, successfully hitting and destroying them."

The statement, meanwhile, warned the United States -- the Israeli regime's biggest supporter -- that "any support or participation in harming Iran's interests will result in a decisive and regrettable response by the Armed Forces of the Islamic Republic."

"Furthermore, America is held responsible for the evil actions of the Zionist regime, and if this child-killing regime is not restrained in the region, it will bear the consequences," it noted.

The Corps concluded the statement by cautioning third countries against letting their soil or airspace be used for attacks against the Islamic Republic.

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News Network
April 23,2024

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The genocidal war on Gaza launched by Israel on October 7 last year, with the support of the US and its other Western allies, completes 200 days on Tuesday, leaving behind a trail of death, destruction, displacement and starvation.

These 200 days – between October 7, 2023, and April 23, 2024 – have been marked by unprecedented crimes against the people of Gaza, especially children and women, the bombardment of hospitals and schools, abuse and torture of women and abduction of young boys.

Human rights groups and international bodies have described the harrowing events unfolding in the besieged Palestinian territory as a textbook case of genocide and ethnic cleansing.

Israeli regime’s key international allies – Washington, London, Paris and Berlin – have also been at the receiving end of massive public backlash for their continued military support for the regime.

The death toll in the apartheid regime’s genocidal campaign has already topped 34,150 since October 7, more than 75 percent of them being women and children, according to the Gaza government office.

The 2.3 million people in the besieged territory continue to deal with a catastrophic humanitarian crisis amid relentless bombings and crippling siege imposed by the Israeli regime with the backing of the US.

Following are the statistics related to 200 days of war waged by the Israeli occupation on Gaza. 

200 – the number of days of the latest Israeli genocidal war on Gaza

41,183 – the total number of those killed and missing in Gaza since Oct. 7

34,183 – the total number of fatalities in Gaza since Oct. 7 (confirmed dead)

7,000 – the number of people still under the rubble of destroyed buildings in Gaza (presumed dead)

77,183 – the number of wounded persons in Gaza since Oct. 7

3,025 – the number of massacres committed by the regime since Oct. 7

14,778 – the number of children killed since Oct. 7

30 – the number of children who died due to starvation and famine

9,752 – the number of women killed since Oct. 7

485 – the number of doctors and paramedics killed since Oct. 7

67 – the number of civil defense personnel killed since Oct. 7

140 – the number of Palestinian journalists killed since Oct. 7

72 – the percentage of children and women killed since Oct. 7

17,000 – the number of children who have lost one or both parents since Oct. 7

11,000 – the number of injured people who need to travel for treatment

10,000 – the number of cancer patients who face the risk of death

1,090,000 – the number of people with infectious diseases due to displacement

8,000 – the number of cases of viral hepatitis due to displacement

60,000 – the number of pregnant women at risk due to lack of healthcare

350,000 – the number of chronically ill patients suffering due to lack of medicine

5,000 – the number of people arbitrarily detained in Gaza since Oct. 7

310 – the number of health practitioners who have been arrested

20 – the number of known journalists arbitrarily detained since Oct. 7

2 million – the number of displaced people in the Gaza Strip

181 – the number of government buildings destroyed since Oct. 7

103 – the number of schools and universities completely destroyed since Oct. 7

317 – the number of schools and universities partially destroyed by the occupation

239 – the number of mosques completely destroyed since Oct. 7

317 – the number of mosques partially destroyed since Oct. 7

3 – the number of churches targeted and destroyed since Oct. 7

86,000 – the number of housing units completely destroyed since Oct. 7

294,000 – the number of housing units partially destroyed since Oct. 7

75,000 – tons of explosives dropped by the occupation on Gaza since Oct. 7

32 – the number of hospitals taken out of service by the occupation since Oct. 7

53 – the number of health centers that have become non-functional since Oct. 7

160 – the number of health institutions partially or fully destroyed since Oct. 7

126 – the number of ambulances destroyed by the occupation army since Oct. 7

206 – the number of archaeological and heritage sites destroyed since Oct. 7

$30 – billions in preliminary direct losses as a result of the genocidal war on Gaza

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