The new Saudi King Salman, who succeeded to the throne after his brother King Abdullah, has reportedly decided to give away 28 billion euros in honor of his accession to the throne.John Sfakianakis, a chief economist in the investment company Ashmore Group, told that it will cause 28 billion euro extra cost in Saudi Arabia economy. The amount is equal to the European Union country Latvia's annual budget.All Saudi public employees, soldiers, retirees and students on state funding will receive a bonus of two month's salary.The average public employee salary is 2,100 euros in Saudi Arabia, therefore, the bonus will be an average of 4,200 euros per public employee.Sports clubs, associations and cultural organizations will also benefit from Salman's 'generosity.'Saudi Arabian media outlets reported that people cheered with the news have flocked shopping malls.