Saudi Arabia's economy may grow by around 6 percent this year following a recently unveiled social spending package, up from an estimated 4.3 percent, its central bank governor was quoted as saying on Wednesday.
Worried by unrest sweeping the Arab world, the world's top oil exporter has pledged to spend an estimated $130 billion, or around 30 percent of its annual economic output, on new houses, creating jobs, unemployment benefit and other measures.
"The economic outlook for the kingdom of Saudi Arabia in 2011 is encouraging and very positive," Central Bank Governor Muhammad al-Jasser said in a speech posted on the central bank's website www.sama.gov.sa.
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