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Saudi royals spending big in age of austerity

This comes even as pay and subsidy cuts for govt staff push power, gas, water bills higher

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A new palace built for King Salman on the coast of Tangier in Morocco. The sale of oil provides billions of dollars in annual allowances, public-sector sinecures and perks for royals, the wealthiest of whom own French chateaus and Saudi palaces, and stash money in Swiss bank accounts.

Tangier, Morocco

BEHIND a tall perimeter wall, studded with surveillance cameras and guarded by Moroccan soldiers, a sprawling new palace for King Salman bin Abdulaziz of Saudi Arabia rose on the Atlantic coast here last summer.

Even as the Saudi government cancelled a quarter of a

sentifi.com

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