Saudi Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf has affirmed that the good performance of the Saudi economy during the global crisis has been due to the fine policies pursued by the Government of the Kingdom of Saudi Arabia, and to fiscal and monetary measures undertaken by the Kingdom in an appropriate time to maintain the stability of macroeconomic situations and to ensure the provision of liquidity. Addressing the International Monetary and Financial Committee of International Monetary Fund (IMF) which concluded its meetings here on Sunday, Dr. Al-Assaf, who is also the Kingdom's Governor to the Fund, and who led the Kingdom's delegation to the meetings, explained that the measures undertaken by the Kingdom have strengthened the ability of the Saudi economy to confront shrinking global economy, noting that non-oil sector grew by 3 percent last year, in addition to the success of the banking sector in surpassing the global financial crisis. He expected that the growth of the private sector will be enhanced in the Kingdom in light of the ongoing efforts to further improve the investment climate and infrastructure development. --MORE
