Arab Today, arab today imf saudi economy to grow 65 in 2011
Last Updated : GMT 09:51:30
Arab Today, arab today
Arab Today, arab today

IMF: Saudi economy to grow 6.5% in 2011

Arab Today, arab today

Arab Today, arab today IMF: Saudi economy to grow 6.5% in 2011

Dubai - Arabstoday

Saudi Arabia\'s overall real Gross Domestic Product (GDP) growth is projected to reach 6.5 per cent in 2011 with inflation likely to rise to about 6 per cent as a result of both domestic and imported factors, the International Monetary Fund (IMF) said on Tuesday. Masood Ahmad, Director of the Middle East and Central Asia Department, said, “The Saudi economy has continued to strengthen in 2010 and early 2011, driven by a strong increase in non-oil GDP reflecting a rebound in the private sector supported by increased government spending and a recovery in global demand and higher oil prices as the world economy emerges from the global financial crisis.\" Overall real GDP growth rose from 0.1 per cent in 2009 to 4.1 per cent in 2010. Profitability of corporates listed on the stock exchange also improved significantly in 2010—net profits were 56 percent higher than in 2009. The banking sector, he said, continues to hold capital above statutory requirements and credit growth is rising. \"With government spending and oil production now also increasing, available leading indicators point to a further strengthening of activity in the first quarter of 2011,\" he said. “Looking ahead, the economy is poised for continued robust growth. Oil production is increasing further to compensate for lower output elsewhere in the region. As a result, both fiscal and external balances are likely to register strong surpluses. Reflecting the positive momentum, overall real GDP growth is projected by the IMF to reach 6.5 percent in 2011 with inflation likely to rise to about 6 per cent as a result of both domestic and imported factors.\" Saudi Arabia is the biggest Arab economy which is the only Arab member of the G20 club of the world\'s most powerful economies. “The strong near-term economic outlook provides an opportunity to address longer-term priorities. As emphasised in recent Royal Decrees, high among these are providing jobs and housing for the growing population,\" Ahmad said. Key steps will be to continue progress in diversifying the economy, building on the positive business environment, and continuing to improve access to finance for SMEs as well as for housing. \"The new policy initiatives entail spending commitments over the next several years which will reduce fiscal surpluses and it will be important that the additional spending be undertaken in a way that complements private sector activity. Ensuring the efficiency of public spending will be key to realizing an appropriate return from the increased government investments,” he concluded.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf saudi economy to grow 65 in 2011 Arab Today, arab today imf saudi economy to grow 65 in 2011

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf saudi economy to grow 65 in 2011 Arab Today, arab today imf saudi economy to grow 65 in 2011

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Russia and Iraq restore air travel

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 11:53 2017 Saturday ,16 September

Jolie effect helps Namibian tourism

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday