Global Economic Crisis generates adverse impact: Al-Sireisiri

Riyadh, May 20, SPA -- Minister of Transport Dr Jubara Al-Sireisiri
has reiterated that the repercussions of the global economic crisis
have had an adverse impact, directly or indirectly, on all countries.

Speaking at the Third session of the Fourth Saudi-European
Conference (Euro Money-2009), currently in progress here, he said
these developments have paved the way for lack of confidence between
the borrowers and lenders in a manner that have remarkably affected
the process of direct investments.

But Dr Al-Sireisiri denied whether the world economic crisis has had
impact on the Kingdom and said the Saudi government has neither
postponed nor cancelled approved projects in any domain of the
governmental sectors.

He noted that work is proceeding ahead at the North-South railways
project in the Kingdom and expected that it would be completed by
next year.

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