Saudi Gazette - Kingdom’s strong growth offers chance to create jobs, says IMF

Saudi Gazette - Kingdom’s strong growth offers chance to create jobs, says IMF:

"Saudi Arabia’s economy continues to perform well, with growth of 5.1 percent in 2012, thanks to high oil prices and output, strong private sector growth, and government spending, say IMF on its website, citing economists.

In its latest annual assessment of Saudi Arabia, the IMF said that while growth is likely to slow to 4 percent in 2013 as oil output declines relative to last year, activity in the private sector will remain healthy.

“The outlook for Saudi Arabia’s economy remains positive,” said Tim Callen, IMF mission chief for Saudi Arabia. “The country should continue to take advantage of this opportunity to create jobs, address housing shortages, develop the small and medium-sized enterprise sector, and further strengthen the fiscal position.”"

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