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Recent Economic Developments and Highlights of Fiscal Years 1435/1436 (2014) & 1436/1437 (2015) 7 Riyadh
Published in Saudi Press Agency on 03 - 01 - 2015

Standard and Poor's has changed the outlook for Saudi Arabia to ''stable'' from ''positive'' but sovereign rating remained unchanged at (AA-). Although the agency lowered the outlook for Saudi Arabia, it states that real economic growth remains relatively strong. A similar assessment by Fitch credit rating issued last March.
-The Saudi Arabian Monetary Agency (SAMA) announced the commencement of compulsory and full implementation of the Finance Companies Control Law starting Sunday 16/1/1436H (9/11/2014), after the lapse of the grace period.
-New laws, regulations and systems have been approved during FY 1435/1436 (2014(, including: Fraud and Terrorism prevention laws, Jobless Insurance Scheme ''SANED System'', Gulf Cooperation Council Trademark Law, Municipal Councils Law, Healthcare System, Feed System, Regulation of Residential support, Regulation of Medical Cities and Specialized Hospitals affiliated to the Ministry of Health, Saudi Association for Tourist Guides, Saudi Association for Tourist Accommodation, Saudi Association for Travel and Tourism and the reorganization of the Consumer Protection Association.


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