The International, Monetary and Financial Committee of International Monetary Fund held a meeting here today. Dr. Ibrahim bin Abdulaziz Al-Assaf, the Minister of Finance and head of the delegation of the Kingdom of Saudi Arabia addressed the meeting on the economic situation in the Kingdom and the Arab region, world economic situations and oil markets. Dr. Al-Assaf pointed out that oil exporting countries are executing ambitious investment plans to meet the world increasing demand, noting the Kingdom's efforts in this field and the ambitious investment program of increasing producing capacity to meet the world demand. He indicated that oil price level and its fluctuations are subject to be affected by security circumstances in some regions, strong world demand and other factors in spite of the efforts adopted by oil exporting countries to ensure markets' stability. The minister of finance said that the Saudi economy continued its strong performance characterized by growth rise, reduction of inflation average and achievement of surplus in the current account and general budget. He stressed the Kingdom's continuation of assistance to developed countries which largely exceeds the targeted level set by the United Nations.
