(Image source from: Saudi King Salman pours $32 billion for employees})

The new king of Saudi Arabia, an oil rich nation announced many schemes after his coronation, but among all his decision to give two month salary as bonus to all the government employees worth of USD 32 billion is very much attractive.

The King took his decision as a good-will gesture to his people. The Kingdom is having $700 billion of foreign currency. Nearly 3 million employees of his government will get this package.

Every government employee will get average salary of $2,400 per month, and with some additional allowances for housing, transportation, overtime and Ramadan bonus they will get around $4,800 in a month.

This "king's bonus" of two months' wages to every government employee and student, will make the King much more prominent in the Kingdom.

"It is party time for Saudi Arabia right now," said John Sfakianakis, the Riyadh-based Middle East director of the Ashmore Group, an investment company, who estimates that the king's post-coronation giveaway will ultimately cost more than $32 billion.

The special bonus is much more than that of many nations’ annual budgets. The people of Saudi are planning to spend this money for marriages (first, second, third..), for buying jewellery, for purchasing iphones,vehicles,etc.

And some are planning for tours to Dubai to enjoy, as their country won’t allow some entertainment.

Saudi Arabia boasts the largest oil reserves in the world.

-Kannamsai