Saudi economy ; the fastest growing after China
Three of the top experts of the international economy have granted Saudi economy the second rank among the fastest growing economies after China, within their expectations for economic growth rates of major global economies for (2011 and 2012), at a rate of 4.2 per cent this year and 4.5 per cent for the next year.
Brad Bourland, Chief economist at Saudi-based Jadwa Investment, said in a recent, through his participation: «Saudi Arabia is the fastest growing economy after China, and this will not change in the near future».
For his part, Rogoff He predicted the collapse of Lehman Brothers before it happens, and has books specialized in crisis, indicating that the main reasons behind Saudi Arabia not affected by the global crisis is their approach on the financial portfolio, which was adopted by the government and the private sector, including banks, comparative advantages to deal by the Islamic way when trading funds.
Forum which was held yesterday, organized by Mohammed and Abdullah Al Subaie Investment Company, and attended by Dr Muhammad Al Jasser, Central bank Governor, and a large number of businessmen, tackled many issues, most notably the course of the global crisis and debt of the Euro, and the war in international exchange rates, and some details in this regard.