Saudi Arabia's strong economic growth this year has been a positive surprise, finance minister Ebrahim Al Assaf said yesterday, adding that the government's plans to build hundreds of thousands of homes aimed to limit future inflationary pressures.
The ministry estimates that gross domestic product of the world's top oil exporter jumped 6.8 per cent in 2011, it said on Monday. This is the country's fastest expansion since 7.7 per cent in 2003.
"In previous years, we used to expect higher growth but it came lower. Figures this year were a happy surprise for us," Al Assaf told Al Arabiya television.
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