King Abdullah of Saudi Arabia appointed two heavyweights to head up the ministry of economy and planning, and the ministry of commerce and industry at a time when consolidating economic planning is crucial to maximizing the benefits of the huge spending earmarked for the coming years.
Muhammad al-Jasser was transferred from his role as central bank governor to head the ministry of economy, in a move that observers said should bolster the ministry which has in the past taken somewhat of a back seat, at least in public.
But others say the job change could be a downgrade for al-Jasser, who moves after only three years at the central bank where he oversaw half a trillion dollars of the country’s wealth.
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