Saudi Arabia expects economic growth close to last year's 6.4 percent, Finance Minister Dr. Ibrahim Al-Assaf said
Wednesday.
Al-Assaf told Reuters that a wave of terrorist bombings and shootings had failed to dent the Kingdom's economic expansion and said the government would use any budget surplus to reduce debt.
Asked if these attacks had provoked capital outflows from the Kingdom, he replied: "Absolutely not. It has been the other way round, we have an increase in liquidity."
Al-Assaf added: "I expect positive growth this year... I'm optimistic it will be very close if not better than last year." (menareport.com)
© 2004 Mena Report (www.menareport.com)
