In culmination of the prudent fiscal and monetary policy pursued by the Government of the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz Al Saud, the Fitch Ratings Financial Institutions International Group has confirmed the strength of the economy and financial power of the Kingdom of Saudi Arabia, good management of its foreign investments and foreign exchange reserves, and controlled supervision of banking sector. In its report on the occasion of the 81st anniversary of the National Day of the Kingdom of Saudi Arabia, Saudi Press Agency (SPA) said that according to reports issued by the Organization of the United Nations Conference on Trade and Development ( UNCTAD), the flow of foreign investments into the Kingdom of Saudi Arabia amounted to SR 552 billion by the end of 2009. On the other hand, Fitch Ratings Financial Institutions International Group confirmed in its statement issued last year that the Kingdom maintained a degree of excellence (A) in world credit rating classification. According to the annual rankings for a competitive investment environment prepared by the International Finance Corporation (IFC) of the World Bank, the Kingdom jumped from 67th position among 135 countries in 2005 to 8th position out of 183 countries in 2010.
