Jasser, the Makkah-based Al-Nadwah said it has confirmed the strength of the Saudi economy. The report said "the national economy continued its growth in 2008 for the sixth consecutive year as the gross domestic product (GDP) grew by 4.5 percent while the private sector grew by 4.7 percent." In 2008, the paper affirmed that the Kingdom of Saudi Arabia attained the biggest surplus in its history as regards general budget and balance of payments. It attributed the strength of the Saudi economy to the wise directives of the Leadership as well as transparency in dealing with the banking system. "It is high time for the world to get acquainted with the Saudi experience," said the daily noting that the participation of King Abdullah bin Abdulaziz at the world economic summit earlier held in London, was greatly appreciated by the world countries. The daily pointed out that the Saudi banking system was capable of financing the economic activities with the required sums of money. --MORE
