Wednesday 30 May 2012

IMF urges targeted Saudi investments - The National

The Saudi government can help the private sector to grow faster and create jobs through targeted investments, says a senior IMF official.

Reforms could also help to lay the foundations for economic growth in the years ahead, said Masood Ahmed,the director of the agency's Middle East and Central Asia department.

"While there has been progress on diversification, the Saudi economy remains dependent on oil exports, and growth has been driven mainly by factor accumulation," he said after an IMF mission to the kingdom this month.

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