Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

IMF Anticipates Saudi Arabia Growth Above 4%  Join our daily free Newsletter

MENAFN - Qatar News Agency - 21/05/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - Qatar News Agency) Shington may 21 (qna) - international monetary fund (imf) anticipated that saudi arabia growth will be above 4% in 2014 and 2015 due to government spending and robust private sector activity.



an international monetary fund (imf) team led by tim callen imf mission chief to saudi arabia held discussions during may 4-15 on the 2014 article iv consultation with saudi arabia. the completion of the article iv consultation is subject to the discussion by the imf executive board. at the conclusion of the mission callen made the following statement: "the economic outlook in saudi arabia remains favorable. growth above 4 percent is expected in 2014 and 2015 led by government spending and robust private sector activity. risks around this growth outlook are evenly balanced. inflation is likely to remain subdued.



"saudi arabia continues to play a systemic role in stabilizing the global oil market which contributes positively to the global economy. regionally saudi arabia is a generous provider of financial assistance to other countries while remittances sent home by expatriates working in the country are an important source of income for many countries.

"the government is undertaking an ambitious economic reform and investment program to further develop and diversify the economy and create jobs and important ogress is being made. the program is focused on further developing infrastructure improving the business environment increasing the quality of education and skills and employing more saudi nationals in the private sector".





the imf expected that the fiscal surplus to decline further in 2014 as government spending increases and the budget may move into deficit in the next few years.

the imf recommended the saudi government to slow the growth of spending.

"the substantial fiscal buffers that the government has accumulated over the past decade already provide important protection to the economy in the event of a negative shock such as a fall in oil prices and should be maintained.



in addition the authorities have initiated actions to strengthen the fiscal framework and they are encouraged to build on this progress to further reform the annual budget introduce a medium-term budget framework and develop tools to manage the volatility of oil revenues" imf statement said.

"monetary and macroprudential policy settings are appropriate given the subdued inflation outlook. equity prices however have risen strongly over the past year and should be carefully monitored in the period ahead. the introduction of a formal macroprudential framework would strengthen the financial stability framework" imf added. (qna)


 


Qatar News Agency




  MENA News Headlines
 Mar 24 2017 - Cheap Tortuga Music Festival Tickets at CapitalCityTickets.com with Promo CodeMENAFN Press
(MENAFN Editorial) CapitalCityTickets.com carries a vast selection of Tortuga Music Festival concert tickets at affordable prices. The Tortuga Music Festival will take place at Fort Lauderdale Beach ...

 Mar 24 2017 - Reputable Registered Nurse and Graduate of Grand Canyon University, Nisha Pullat, RN, BSN, will be Exhibited in the Worldwide Leaders in Healthcare | #PRNCMENAFN Press
(MENAFN Editorial) The International Nurses Association is pleased to welcome Nisha Pullat, RN, BSN, to their prestigious organization with her upcoming publication in the Worldwide Leaders in ...

 Mar 24 2017 - Falconcity of Wonders to connect Chinese with top Dubai projects as Platinum Sponsor of Dubai Property Show ChinaMENAFN Press
(MENAFN Editorial) UAE, March 22, 2017 Falconcity of Wonders LLC, the developer of Falconcity of Wonders (FCW), the multipurpose megaproject currently being built in Dubai, has confirmed its ...

 Mar 24 2017 - An Industry First: Teradata Debuts Open Source Kylo to Quickly Build, Manage Data PipelinesMENAFN Press
(MENAFN Editorial) Dubai, UAE March 22, 2017 Teradata (NYSE: TDC), a leading analytics solutions company, announced a new and important contribution to the open source community that will deliver ...

 Mar 24 2017 - Department of Economic Development Ajman launches new event aimed at raising awareness on promoting a secure consumption cultureMENAFN Press
(MENAFN Editorial) UAE, March 22, 2017- The Commercial Control and Consumer Protection Department of the Department of Economic Development - Ajman (DED-Ajman) will launch tomorrow (March 23, ...

 Mar 24 2017 - ManageEngine to Advance Business-IT Alignment with Help from ZohoMENAFN Press
(MENAFN Editorial) ManageEngine, the real-time IT management company, today announced its strategy for advancing the state of IT management and aligning IT with business objectives. Parent ...

 Mar 24 2017 - Cardiovascular disease may be one of the main causes of death in type 2 diabetesMENAFN Press
(MENAFN Editorial) By: Dr. Arif Abulla Abdulrahim Al Nooryani - CEO of Al Qassimi Hospital Sharjah | Head of Cardiac Cath Lab at Al Qassimi Hospital Sharjah UAE United Arab Emirates 23st ...

 Mar 24 2017 - Drake and Scull signs-off the sale deal of its ownership share in the ONE PALM development in DubaiMENAFN Press
(MENAFN Editorial) UAE, March 23, 2017 Drake & Scull International PJSC ('DSI or the 'Company), a regional engineering and services leader, signed today the sale deal of its ownership share in ...

 Mar 24 2017 - Philips expands presence across the regionMENAFN Press
(MENAFN Editorial) United Arab Emirates Royal Philips (NYSE: PHG, AEX: PHIA) announced today that is has expanded its footprint across the region following the inauguration of its new scientific ...

 Mar 24 2017 - Supreme Legislation Committee to promote more creative ideas in newly-launched Happiness Cup' contestMENAFN Press
(MENAFN Editorial) UAE, March 23, 2017- As part of the celebration of the International Day of Happiness, and in line with the efforts to achieve its goals and objectives to provide a happy work ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help