King`s Interview with Al-Siyasah Newspaper 5 Kuwait

Q: How do you foresee the Saudi economic experience for the GCC states after the
financial crisis that has swept the whole world, and the quick recovery of Saudi
economy from its effects.


A: First of all, I confirm that the Saudi economy is fine, and the impact left on
it by the global financial crisis had been limited, which resulted from the panic
that prevailed among the people. This had been normal and it did not take a time
until people had been reassured about the procedures undertaken by the state in
this regard.


Our budget last year was higher than the previous one in spite of the world
financial crisis and this year it is better than the last year which will be
reflected on the Saudi economy which is in a very excellent condition. The Kingdom
has a national awareness of investment being led by experienced government sector
and a private sector skilful in the economic matters of the world. In spite of the
global financial crisis, the desires of foreign investment in the Kingdom have
increased over the past year.


We have expected at the beginning of the year that oil prices range between 75 and
80 U.S. dollars per barrel, which is a fair price. The prices conform with our
expectations. The oil prices are to be firm or perhaps there is going to a
reasonable rise.


Q: What about your decisions on Jeddah floods?


A: Investigations have been still underway to determine who was responsible for
this disaster. Yes, I had not been comfortable with what happened in Jeddah. We
should be prepared to confront the floods and prevent any damage from their
effects. That is the least of what should be the situation. The basic matter is
that there should not be factors conducive to the occurrence of the disaster
witnessed by Jeddah. We will not be lenient with anyone who has derelicted his
duty. Jeddah floods have revealed what we should do in the next days to improve the
infrastructures in Jeddah and other Saudi cities.


Q: What about the purpose of launching four religious television channels by
Minister of Culture and Information ?


A: The purpose of these stations is to educate people with correct Islamic culture
and religion revealed by Prophet Mohammed (Peace be Upon Him). They are channels
for enlightening people on correct religious education to keep away from those
persons who interpret verses of the Holy Quran and Prophet's sayings contrary to
their meanings to serve their own interests.


--SPA