GOVERNOR OF THE SAUDI ARABIAN MONETARY AGENCY (SAMA) HAMAD AL-SAYYARI SAID SUNDAY THAT THE SAUDI GOVERNMENT HAS BEEN GIVING TOP PRIORITY TO THE DEVELOPMENT OF INFRASTRUCTURE PROJECTS WHICH IMPROVE THE PERFORMANCE OF THE ECONOMIC PERFORMANCE. IN AN ADDRESS AT A MEETING OF THE MONETARY AND FINANCIAL COMMITTEE OF THE INTERNATIONAL MONETARY FUND (IMF), HERE TODAY, AL-SAYYARI SAID THE SAUDI ECONOMY HAS BEEN MAKING STEADY PROGRESS. "DESPITE THE CONTINUATION OF THE REGIONAL TENSIONS, YET THE ECONOMIC PERFORMANCE WAS STRONG IN THE COUNTRIES OF THE ARAB REGION." COMMENTING ON THE DEVELOPMENTS AT THE PETROLEUM MARKET, AL-SAYYARI SAID DESPITE THE TIRELESS EFFORTS EXERTED BY PETROLEUM EXPORTING COUNTRIES TO STABILIZE THE PETROLEUM MARKET, YET THE OIL PRICES ARE LIABLE TO BE AFFECTED BY THE SECURITY CIRCUMSTANCES IN SOME REGIONS AND THE STRONG WORLD DEMAND FOR OIL. HE POINTED OUT THAT THE PETROLEUM EXPORTING COUNTRIES HAVE BEEN CARRYING OUT AMBITIOUS INVESTMENT PLANS TO MEET THE INCREASING WORLD DEMAND FOR OIL. AL-SAYYARI UNDERSCORED THE IMPORTANCE OF DIALOGUE BETWEEN THE PETROLEUM PRODUCERS AND CONSUMERS.
