Governor of Saudi Arabian Monetary Agency Dr. Fahd bin Abdullah Al-Mubarak said that since several years, the economies of the Gulf Cooperation Council countries have been witnessing an outstanding and comprehensive development due to the expansion in public spending on infrastructure projects as a result of high oil revenues reflecting positively on the situation of the banking sector. The remarks by the governor came in his opening speech at the fourth session of the Committee of Governors of Monetary Agencies and Central Banks in GCC countries, held today in Riyadh. After the speech ceremony, a closed-door meeting of the Committee of Governors of Monetary Agencies and Central Banks in GCC countries began.
