RIYADH (HRNW) – With Saudi Arabia announcing a threefold rise in the value-added tax (VAT), an expert believes the move may also make it more expensive for people to take the Umrah and Hajj pilgrimages, reported Anadolu Agency.
“The Saudi economy has come under a double shock as a result of the collapse of global crude oil prices and due to the measures taken to curb the coronavirus outbreak,” Mohamed Ibrahim, Istanbul-based economic expert, told Anadolu Agency.
The measures also included suspending the cost-of-living allowance to address the negative impact of the coronavirus crisis.
Ibrahim said the measures will raise the costs of many items including making Umrah and Hajj expensive.
“Saudi authorities may increase the Hajj and Umrah fees to help alleviate the severity of the country s budget deficit,” he added.
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