ID :
81951
Sun, 09/27/2009 - 08:59
Auther :
Shortlink :
https://www.oananews.org//node/81951
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Saudi Arabia`s statement at session of UN General Assembly delivered 8 New York
As we have seen, concerted international efforts and the adoption of
a serious and credible approach to multilateral action have begun to
produce fruitful results in which we can discern the first signs of
improvement and a return to stability and growth in the world
economy. My country has approved the largest governmental budget in
its history in which US$ 400 billion have been allocated for
investment in development projects over a five-year period with a
view to the adoption of an expansionist financial policy aimed at
closing the deflationary gap and stimulating demand to counter the
repercussions of the global financial crisis.
The best lesson to be learnt from this experience is the overriding
importance of making every possible effort to remedy the flaws in the
international financial system and reach international agreement on
ways to remedy the flaws in the world economy in such a way as to
secure a financial system that offers equal opportunities to all the
parties while, at the same time, providing appropriate liquidity for
the developing countries and safeguarding their monetary reserves
from the collapse of any of the major international currencies.
I do not think that it would be an exaggeration for me to say that my
country, which is a developing country and, at the same time, a
member of the G20 whose leaders recently held an important meeting,
is not uttering empty words in this regard since the record clearly
shows that its course of action is fully consistent with what it has
advocated, and is continuing to advocate, in all international
forums.
Notwithstanding the fact that it is a developing country experiencing
rapid demographic growth that implies a need for steadily increasing
financial resources to cover the costs of human development,
infrastructure and indigenous capacity building, the Kingdom has made
considerable endeavours to assist other more needy countries to an
extent that far exceeds the target set for international development
assistance. The report issued by the United Nations Office for the
Coordination of Humanitarian Affairs confirms that the Kingdom of
Saudi Arabia headed the list of donor countries funding humanitarian
relief operations in 2008.
--More
a serious and credible approach to multilateral action have begun to
produce fruitful results in which we can discern the first signs of
improvement and a return to stability and growth in the world
economy. My country has approved the largest governmental budget in
its history in which US$ 400 billion have been allocated for
investment in development projects over a five-year period with a
view to the adoption of an expansionist financial policy aimed at
closing the deflationary gap and stimulating demand to counter the
repercussions of the global financial crisis.
The best lesson to be learnt from this experience is the overriding
importance of making every possible effort to remedy the flaws in the
international financial system and reach international agreement on
ways to remedy the flaws in the world economy in such a way as to
secure a financial system that offers equal opportunities to all the
parties while, at the same time, providing appropriate liquidity for
the developing countries and safeguarding their monetary reserves
from the collapse of any of the major international currencies.
I do not think that it would be an exaggeration for me to say that my
country, which is a developing country and, at the same time, a
member of the G20 whose leaders recently held an important meeting,
is not uttering empty words in this regard since the record clearly
shows that its course of action is fully consistent with what it has
advocated, and is continuing to advocate, in all international
forums.
Notwithstanding the fact that it is a developing country experiencing
rapid demographic growth that implies a need for steadily increasing
financial resources to cover the costs of human development,
infrastructure and indigenous capacity building, the Kingdom has made
considerable endeavours to assist other more needy countries to an
extent that far exceeds the target set for international development
assistance. The report issued by the United Nations Office for the
Coordination of Humanitarian Affairs confirms that the Kingdom of
Saudi Arabia headed the list of donor countries funding humanitarian
relief operations in 2008.
--More
