Jasser. Dr. Al-Jasser delivered a speech in which he said that he has the honor to hand over to the King SAMA's report highlighting the latest economic developments in the Kingdom of Saudi Arabia. He said," Our national economy continued its strong growth in 2008 for the sixth consecutive year. Real Gross Domestic Product (GDP) increased by 4.5 percent. The role of the private sector enhanced when it grew by 4.7 percent. The Kingdom of Saudi Arabia has achieved the largest surplus in its history in general finances and balance of payments. The general finances achieved further improvement which led to a surplus for the sixth consecutive year amounting to 33 per cent of the gross domestic product. The balance of payments registered a surplus for the tenth successive year amounting to 28.6 percent of gross domestic product." Dr. Al-Jasser noted that annual inflation rate dropped from the highest point of 11.1 per cent it reached in July 2008 to 4.2 percent in July 2009 and it is expected that the inflation rate will continue its decline providing better opportunities for further growth and financial stability. --More
