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Food Wasted in Saudi Arabia (SR49Bn) Exceeds VAT Proceeds It Estimates to Collect This Year

JUN 11, 2018 — The Saudi Kingdom has launched a national program to crack down on food waste after shocking figures estimated the cost of wastage at $13.3 billion (SR49 billion) a year . The yearly squandering of food amounts to a third of the country‚Äôs food production, and nearly 36 percent of its 2018 projected budget deficit of SR137 billion. The amount also exceeds by a factor of 2 the estimated SR23 billion in annual VAT proceeds the Kingdom expects to collect this year. The whopping figure puts SaudiRead More