A number of economic analysts have belittled the impact of the global financial crisis on the Saudi economy or on the Saudi banking institutions due to the fact that they have no direct investments at the international financial institutions which have been suffering problems of liquidity. The economic analysts hailed the keenness of the Saudi Leadership on ensuring the Saudi economy and keeping it far away from the impact of the current financial crisis, Dr Mohammed Al-Katheeri, the Secretary General of Riyadh Economic Forum, said the impact of the global crisis on the Saudi economy will be minimum. He noted that the Saudi economy is not isolated from the developments in the world but its adverse impact will be minimum compared to other economies. Al-Katheeri said the economic prosperity witnessed by the Kingdom since 2004 will make it possible to lessen the impact of the crisis. Al-Katheeri underscored the importance of the industrial strategy and activation of the decision pertaining to the establishment of the exports development commission. He added that industrial development constitutes the most suitable way for the diversification of the sources of income and acceleration of the wheel of the economic development. He also drew attention to the importance of economic integration among the GCC member states and implementation of the decisions which serve joint work notably the decision pertaining to the unified currency. --MORE
