| 04 Jan 2010 |
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Governor of SAMA stresses soundness of Saudi monetary policy
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Riyadh -- Governor of Saudi Arabian Monetary AgencySaudi Arabian Monetary Agency
Dr. Mohammad bin Suleiman Aljasir highlighted the soundness of the Saudi monetary policy which helped the Kingdom of Saudi Arabia in avoiding the dangers of the world financial crisis and its consequences.Due to wise directives by Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud, Crown Prince Sultan bin Abdulaziz, Deputy Premier, Minister of Defense and Aviation and Inspector General, and Second Deputy Premier and Minister of Interior Prince Naif bin Abdulaziz Al Saud, the Saudi economy was not exposed to the current financial crisis, Governor of SAMASAMA
said.In a speech during the first meeting with businessmen held here today, Governor of SAMASAMA
said that the local economy continued growth in 2009 and gross domestic product registered a positive growth rate of 0.15%.Governor of SAMASAMA
added that the government managed to increase actual spending in 2009 by 5.7 compared to 2008 despite the decrease of total revenues in 2009 by more than 54%.On the riyal's peg to the US dollar, Dr. Aljasir highlighted the benefits of this policy adding that the policy was based on economic reasons which still exist.
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