Saudi Arabia expects high growth rate despite bombing attacks
Saudi Arabia expects economic growth close to last year's 6.4 percent, Finance Minister Dr. Ibrahim Al-Assaf said
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)
- High Growth Rate Led By Saudi Private Sector Increases Demand For Luxury Properties
- Saudi credit growth to ease by 2015
- GCC Investment Strategy and Sectors Outlook for 2006
- Elaf Group’s opening of two new hotels in Al Madina Al Munawara to address high demand for rooms as peak pilgrimage season approaches