Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf called the International Monetary Fund (IMF) expectations on the prospects of average growth of the Kingdom's gross domestic product this year at 7.5 per cent as optimistic outlook. In a press statement on the sidelines of Euromoney Conference which started its activities here today, he pointed out that the estimates of the IMF on the average domestic product which will be achieved this year are optimistic, confirming that this percent will be lesser than the expectations of the IMF but eventually, all these, are mere speculations. He drew attention to the Ministry of Finance concentration on housing projects, that it has a team involved in this regard, indicating that the work will begin in them immediately after the end of bid tendering. The role of government funds is very significant in boosting national economy and providing necessary funds for governmental as well as private ventures, Dr. Al-Assaf added, noting that the package of the royal orders on development which were issued recently contributed to recapitalization of some funds, a matter that made easier to provide more financing opportunities for projects. -- SPA
