Sunday 20 March 2011

Saudi Arabia sees no outflows from regional strife | Reuters

Saudi Arabia's economy is reasonably insulated from the regional turmoil and the central bank has seen no abnormal capital outflows, its governor Muhammad al-Jasser said on Sunday.

Revolts have been sweeping through the Arab world since December, shaking the world's top oil exporter's neighbors Bahrain, Oman and Yemen, while raising debt insurance costs and pressuring markets across the Gulf.

When asked about the impact of the regional turmoil on the economy and capital flows, the Saudi central bank governor told reporters: "I think very little because simply, economically you have to look at what you are exporting and importing."

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