ID :
50510
Sat, 03/14/2009 - 15:37
Auther :
Shortlink :
https://www.oananews.org//node/50510
The shortlink copeid
Al-Assaf: Kingdom`s economy is eligible to cope with the world financial crisis 2 London
Al-Assaf drew the attention that the Kingdom possesses the highest
stimuli package, according to IMF statistics. He said the intensives
this year reached 3.3 percent of the gross domestic product.
He said the Saudi government widely stretched its lending hand to
small and medium enterprises which, as is the case in most countries,
have been affected with the crisis.
Despite slide of oil price, our general investments program is
progressing as planned, he said, citing the oil sector as well.
He described the monetary policy of the Kingdom of Saudi Arabia as
strict in dealing with the crisis, citing reduction of interest rate,
provision of financial support to banking sector and creation of
supervising and organizational clean environment that led to the
prevention of negative effects on Saudi banking sector in the way
that hit most of their counterparts in the world.
Pointing to generous opportunities of investment in the Kingdom of
Saudi Arabia, he said the call for Saudi businessmen to invest in the
United Kingdom is good but should coincide with a parallel investment
movement by British businessmen towards Saudi Arabia.
He praised the role of the Arab-British Chamber of Commerce in
promoting business between the two countries.
--SPA
stimuli package, according to IMF statistics. He said the intensives
this year reached 3.3 percent of the gross domestic product.
He said the Saudi government widely stretched its lending hand to
small and medium enterprises which, as is the case in most countries,
have been affected with the crisis.
Despite slide of oil price, our general investments program is
progressing as planned, he said, citing the oil sector as well.
He described the monetary policy of the Kingdom of Saudi Arabia as
strict in dealing with the crisis, citing reduction of interest rate,
provision of financial support to banking sector and creation of
supervising and organizational clean environment that led to the
prevention of negative effects on Saudi banking sector in the way
that hit most of their counterparts in the world.
Pointing to generous opportunities of investment in the Kingdom of
Saudi Arabia, he said the call for Saudi businessmen to invest in the
United Kingdom is good but should coincide with a parallel investment
movement by British businessmen towards Saudi Arabia.
He praised the role of the Arab-British Chamber of Commerce in
promoting business between the two countries.
--SPA