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
 Sep 26 2016 - The Euromoney Kuwait Conference: Meeting the Challenge of Financial Innovation and ReformMENAFN Press
(MENAFN Press) Kuwait City - 27 September The 8th annual Euromoney Kuwait Conference takes place today on 27 September 2016, at the JW Marriott Hotel in Kuwait City. Co-hosted by the Ministry of ...

 Sep 26 2016 - Oil Industry Must Focus on Sustainability, Says Top Petroleum Development Oman ExecutiveMENAFN Press
(MENAFN Press) Ms Intisaar Al Kindi to Represent Innovative Oman Oil Producer at Middle East’s Largest Oil & Gas Event Industry Transition and Resilience Set the Agenda for ADIPEC 2016 Abu ...

 Sep 26 2016 - Moderate quakes rattle Japan no injuries or damage reportedSaudi Press Agency
(MENAFN - Saudi Press Agency) TOKYO, 25 Dhu-AlHijjah,1437 AH, 26 September,2016 , SPA -- A pair of moderate earthquakes rattled northern and southern Japan on Monday, but there were no immediate ...

 Sep 26 2016 - Pakistan launches polio vaccination drive amid tight securitySaudi Press Agency
(MENAFN - Saudi Press Agency) Islamabad, 25 Dhu-AlHijjah,1437 AH, 26 September,2016 , SPA -- Pakistan on Monday launched a three-day national anti-polio campaign to vaccinate around 37 million ...

 Sep 26 2016 - Israeli occupation forces open fire on Palestinian homes in GazaSaudi Press Agency
(MENAFN - Saudi Press Agency) Gaza city, 25 Dhu-AlHijjah, 1437,September 26, 2016, SPA -- Israeli occupation forces targeted and opened fire on Palestinian homes, east of Khan Yunis in the southern ...

 Sep 26 2016 - Kingdom of Saudi Arabia participates in International Conference on Atomic Energy in ViennaSaudi Press Agency
(MENAFN - Saudi Press Agency) Vienna, 25 Dhu-AlHijjah, 1437,September 26, 2016, SPA -- The International Conference on Atomic Energy today opened its 60th session in the Austrian capital Vienna. ...

 Sep 26 2016 - Governor of Jeddah receives US Consul General in JeddahSaudi Press Agency
(MENAFN - Saudi Press Agency) Jeddah, 25 Dhu-AlHijjah, 1437,September 26, 2016, SPA -- Prince Mishaal bin Majed bin Abdulaziz, Governor of Jeddah, received here today United States Consul General in ...

 Sep 26 2016 - Saudi- Prince Miteb bin Abdullah bin Abdulaziz Receives Poland's AmbassadorSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, 25 Dhu-AlHijjah, 1437,September 26, 2016, SPA -- Prince Miteb bin Abdullah bin Abdulaziz, Minister of the National Guard, received here today Ambassador of ...

 Sep 26 2016 - Chinese stocks close below 3,000-mark after period of stabilitySaudi Press Agency
(MENAFN - Saudi Press Agency) Beijing, Dhu-AlHijjah 25, 1437, September 26, 2016, SPA -- Chinese shares fell below the symbolic 3,000-point mark on Monday, following months of greater stability and ...

 Sep 26 2016 - Saudi Food and Drug Authority bans import of poultry meat and eggs from TogoSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, 25 Dhu-AlHijjah,1437 AH, 26 September,2016 , SPA -- Saudi Food and Drug Authority has imposed a temporary ban on the import of poultry meat, eggs and their ...

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

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