Economic analysts speak on Saudi Economy and Banking Institutions

Riyadh, Oct 27, SPA -- A number of economic analysts have belittled
the impact of the global financial crisis on the Saudi economy or on
the Saudi banking institutions due to the fact that they have no
direct investments at the international financial institutions which
have been suffering problems of liquidity.


The economic analysts hailed the keenness of the Saudi Leadership on
ensuring the Saudi economy and keeping it far away from the impact of
the current financial crisis,
Dr Mohammed Al-Katheeri, the Secretary General of Riyadh Economic
Forum, said the impact of the global crisis on the Saudi economy will
be minimum.


He noted that the Saudi economy is not isolated from the
developments in the world but its adverse impact will be minimum
compared to other economies.


Al-Katheeri said the economic prosperity witnessed by the Kingdom
since 2004 will make it possible to lessen the impact of the crisis.


Al-Katheeri underscored the importance of the industrial strategy
and activation of the decision pertaining to the establishment of the
exports development commission.


He added that industrial development constitutes the most suitable
way for the diversification of the sources of income and acceleration
of the wheel of the economic development.


He also drew attention to the importance of economic integration
among the GCC member states and implementation of the decisions which
serve joint work notably the decision pertaining to the unified
currency.

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