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Islamic Finance Briefing - Categorized | Islamic Law / Economics, Performance more

Saudi economy to grow 6.5pct in 2011: IMF

Posted on 02 June 2011

Saudi Arabia’s overall real Gross Domestic Product (GDP) growth is projected to reach 6.5 per cent in 2011 with inflation likely to rise to about 6 per cent as a result of both domestic and imported factors, the International Monetary Fund (IMF) said.
Masood Ahmad, Director of the Middle East and Central Asia Department, said, “The Saudi economy has continued to strengthen in 2010 and early 2011, driven by a strong increase in non-oil GDP reflecting a rebound in the private sector supported by increased government spending and a recovery in global demand and higher oil prices as the world economy emerges from the global financial crisis.”………………………………………Full Article: Source

 
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