The International Monetary Fund (IMF) on Tuesday praised Saudi Arabia's economic performance, as its Consultation Mission to Saudi Arabia concluded recently its annual (2012) visit to Riyadh. “Economic performance has been exceptionally strong and the outlook remains buoyant,” said Masood Ahmed, the Director of the Middle East and Central Asia Department, at the conclusion of the 13-day mission visit to Riyadh on May 26, according to a latest press release of IMF. “Overall real GDP is estimated to have grown by 7.1 percent in 2011, with 8 percent growth recorded in the non-oil sector-the highest since 1981-and private sector growth at 8.5 percent,” Ahmed said. “Saudi Arabia has provided important support to the global economy during a period of high global uncertainty, including through its actions in stabilizing the global oil market,” Ahmed said. --MORE
