OFWs in Saudi Arabia affected by economic reforms
Jan 27, 2016
A million overseas Filipino workers (OFWs) in the kingdom of Saudi Arabia may be unemployed if the current economic scenario and sharp drop of oil prices continues. At least 30 OFWs who works in a construction firm had been given termination notices by the company. This was a result of budget cuts and austerity measures taken by the Saudi government making government projects set to delay or temporarily stopped. A migrant worker group has called the attention of the Philippines government to adopt short-term and long-term measures to assist the OFWs. They insisted that aside from jobs, OFWs should also be given livelihood assistance loans and other assistance packages.
Saudi has increased the local oil prices by 50 percent and is to imposed Value Added Tax or VAT at the end of the year. More OFWs are foreseen to be affected by these move.