3 expat women who practiced prostitution in a hotel arrested in Riyadh    Tunisian president and Saudi interior minister discuss security cooperation    Saudi, US defense ministers discuss over phone ways to enhance strategic cooperation    Grand Mufti expresses pride over Saudi Arabia's firm position on Palestine issue    Saudi Arabia's inflation records slight rise reaching 2% in January 2025    Electromin celebrates victory of "Nissan Formula E Team" in "Jeddah E-Prix" as first Saudi private-sector global partner in Formula E    Saudi Arabia vows full support to Lebanon's actions to safeguard citizens' security    US-made heavy bombs arrive in Israel after Biden-era hold    Death toll from New Delhi railway station stampede rises to 18    US, Russia to begin Ukraine peace talks in Saudi Arabia    Al Ittihad CEO calls for fairness as Al Hilal raises officiating concerns ahead of Saudi Classico    LG Electronics Saudi Arabia and Shaker Group mark 30 years of sustainable innovation in HVAC solutions    Benzema shines with goal and two assists as Al Ittihad dominate Al Wehda French star leads Al Ittihad to 4-1 victory, extending lead over Al Hilal ahead of top-of-the-table clash    Saudi Arabia among world's top 10 energy storage markets    Al Hilal held to controversial 1-1 draw against Al Riyadh, missing chance to reclaim top spot    Al Hilal accuses SPL's Michael Emenalo of bias and SFF's Manuel Navarro of pressuring team to accept local referees Club criticizes officiating, calls for elite foreign referees in Saudi Pro League    Maya Diab joins Arab stars and celebrities in celebrating the Centrepoint Ramadan 2025 collection launch at Riyadh Boulevard    Oilatum tackles rise in Eczema and Dry Skin in Saudi Arabia    HONOR brings together AI and luxury with PORSCHE DESIGN HONOR Magic7 RSR at LEAP 2025    Chinese film stirs national pride, rakes in $1bn in days    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Inflation will go down: Al-Jasser
By Fahd Al-Dhiyabi
Published in The Saudi Gazette on 27 - 09 - 2010

Jasser, Governor of the Saudi Arabian Monetary Agency, sounded optimistic that inflation in the Kingdom would go down in the coming months.
Inflation surged to 6.1 percent year-on-year in August and sparked a chorus of complaints from consumers, especially over higher food prices.
“I think also it is premature to make conclusions this early on the trajectory of inflation,” Al-Jasser said at a news conference here Sunday.
He said “seasonality” – a reference to the big spending on food that takes place during the holy month of Ramadan, which ended on Sept. 9 – was a component in the jump in prices.
He also said the sharp rise worldwide in key food commodity prices such as wheat had been an important cause in the surge of prices. Nevertheless, he said, SAMA and other government departments have been “very active” in coordinating over fiscal policy to keep a rein on inflation.
The SAMA chief said Saudi economy has contributed to the global economic recovery and stressed that it was not a burden on the world economy.
A day after SAMA's 46th annual report was released, Al-Jasser said the national economy registered only a 0.6-percent slowdown in the GDP growth during the past year despite a 53 percent drop in government revenues and an 83 percent decline in the balance of payments.
Al-Jasser stressed that the banking sector has never needed government bailouts, as was the case for banks in some countries. Saudi banks have sufficient solvency, he added, which was confirmed by a five percent rise in lending to the private sector.
Al-Jasser said the Kingdom's cash reserves, which exceed $460 billion, are not a surplus, but an indication of the economy's strength. The Kingdom must benefit from its reserves through a wise, well-studied approach, he added.
Addressing a question by Okaz/Saudi Gazette, Al-Jasser denied any relationship between SAMA and rises or decreases in interest rates on personal loans. He stressed that the banking market determines interest rates.
In expressing support for small and medium enterprises, which make significant contributions to the national economy, Al-Jasser said he held a meeting Saturday with the chairmen of the boards of directors of banks to discuss the subject and positive results would be issued in the future.
Al-Jasser advised young businessmen to take a positive approach to small and medium-sized companies so their sectors can grow.


Clic here to read the story from its source.