Saudi Arabia’s winning of 8th position among the world’s 10 high growth economies of 2012 listed by the International Monetary Fund reflects its economic strength and stability, said Economy and Planning Minister Muhammad Al-Jasser yesterday.
“The IMF has predicted that the actual growth rate of Saudi Arabia’s gross domestic product would reach six percent in 2012. This is a new international certificate that reaffirms the Kingdom’s economic stability and effectiveness of its economic policies,” he said.
Al-Jasser said the buoyant IMF economic outlook about Saudi Arabia is significant as it comes at a time when most countries in the world are facing economic downturn as a result of global recession and euro zone financial collapse.
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