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The Minister of Finance Dr. Ibrahim Al-Assaf that the financial reserve which is owned by the Kingdom (government) abroad is enlarged, and size appropriate, pointing agents of shield out that the government is investing in the industrial sector is very large, both through the Industrial Development Fund, or the Public agents of shield Investment Fund, or through support infrastructure projects through the body or other industrial agents of shield cities, and that the government did not fail to support the industrial sector or other sectors other.
He also stressed that the country's development will not be affected agents of shield by lower oil prices, noting that the Kingdom has the lines of defense in the event of reduced oil prices, the reserve is good, adding that the government debt is nearing completion. The Minister of Finance: In any case, do not expect to get a significant drop, and we will continue in the completion of development projects . He pointed out that there is a technical agents of shield program of cooperation with the World Bank through his experiences in many countries, and in the various fields of health and education.
This came in a meeting a joint press yesterday, the first after a meeting in Jeddah, the President of the World Bank, which he is visiting for the first time part of his tour in the Middle East, and praised Al-Assaf its developmental role in many developing countries, especially Arab states, noting the support agents of shield of the Government of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz - may God protect him - for many of the Arab countries.
The Al-Assaf, there was encounters with the head of the World Bank Group, the first with a group of businessmen and women, and a number of heads of boards of directors of the Saudi banks, praising Ballqa raised when many of the points, especially matters relating to the role of the private sector development, as well as the role of the World Bank Group Kingdom. It was also an exchange of views on how to strengthen cooperation between the Bank and the private sector, especially with regard to improving and enhancing employment opportunities for young people. He added that the second meeting of the major meetings with the head of the World Bank Group and the delegation accompanying him, was it discussed agents of shield aspects of cooperation between the Kingdom and the World Bank, both in the aspects of cooperation in the field of development or in the technical program implemented by the World Bank in the Kingdom, as well as the role of the World Bank Group Kingdom, a private support and funding with the Saudi private sector, and emphasize the role of the bank in support of the Arab countries that need financing. He said: look forward and head of the World Bank Group to meet His Royal Highness Prince Salman bin Abdulaziz, the Deputy Custodian agents of shield of the Two Holy Mosques and HRH Prince Abdulaziz bin Horny Crown Crown .
The Minister of Finance said that the World Bank boss appreciate the efforts and support of the Kingdom of the countries of the region and the Arab countries, especially during the last period or the past years, agents of shield and said: I think that the Kingdom of the major shareholders of the World Bank, and in many activities, agents of shield such as co-financing and supporting the institutions of different bank, There are some institutions such as Bank International Finance Corporation, which has a technical activity in the Kingdom, which is to help and contribute to the development of the Saudi economy through technical consultancy and transfer of expertise needed by the Saudi economy .
On the economic diversification in the Kingdom Assaf said: We see this diversity in the Kingdom's economy annually, and it appears to us through the indicators and figures that we see, which continues to grow, as well as increase the contribution of the private sector in this growth, and I think that there has been progress with regard to the economic base , I expect economic growth to overcome the kingdom to 4%, and the initial estimates of economic growth and size, as is the decision in the budget, and expectations of government spending in itself .
For his part, the President agents of shield of the World Bank, Dr. Jim Kim thanked the Government of the Kingdom and the Minister agents of shield of Finance agents of shield for their support of the World Bank and the success of this strategic partnership with the World Bank, which contributed to the support of many Arab countries, and also thanked the Kingdom for its support is limited for many countries in the region, especially agents of shield the affected by or was the Syrian crisis a direct impact on the economy, such as Lebanon and Jordan, as well as other countries in the region such as Yemen, Egypt, stressing the strength of the partnership between the Kingdom and the World Bank, and the contribution of this partnership in supporting the economies of many countries of the world, especially countries in the region.
Kim described the Kingdom as one of the largest shareholders in the bank, the contribution of continuing in the long run. Indicating that the relationship between the Kingdom agents of shield and the bank is very strong, and their partnership strategy. Saudi Arabia's economy and said that we have a positive outlook for the Saudi economy, which is on the verge of significant growth this year, up to 6 per cent, especially with the growth of non-oil sector. And government support for education, Kim praised the Saudi experience in education and spent huge amounts of money, including confirms the success of this experiment at the level of the whole world.
And Kim stressed that the bank in a report last summer said that the Syrian crisis has had a huge impact on the economies of Jordan and Lebanon, and we try as much as possible to help all of Jordan, Lebanon, agents of shield financially agents of shield and technically through advisors with respect to Syrian refugees who impact the large number on the economy agents of shield of these two countries. He said: We are in the fund through our previous have learned that the economic agents of shield impact of any region in the Middle agents of shield East will affect the rest of the world; Therefore, it is necessary to support the weak states economically in the region as much as possible, agents of shield and I think that this would be in the interest of the whole world .
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