| The Saudi central bank, the Saudi Arabian Monetary Agency (SAMA), has announced that the recent slump in oil prices had not hurt the country's economy. In a rare statement, Governor of the Central Bank Fahd al-Mubarak expressed his “confidence in the steadfastness of the Saudi economy in the face of the oil price decline in the medium term.”
The governor’s comments come amidst reports of potential massive losses in revenues by the countries that mainly export oil. Saudi Arabia is the number one economy in the Middle East in terms of size, but that’s mainly due to its 10.5 million barrels of oil being produced on a daily basis...............................................Full Article: Source
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