The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has received the 55th annual report of Saudi Arabian Monetary Authority (SAMA) which reviews economic and financial developments in the Kingdom during 2018.
This came during the King's reception at Al-Salam Palace here today Minister of Finance Mohammed bin Abdullah Al-Jadaan, the Governor of SAMA Dr. Ahmed bin Abdul-Karim Al-Khulaifi and undersecretaries of the Governor.
The King noted the important role of the Saudi Arabian Monetary Authority in serving the national economy and achieving desired goals, wishing success for all.
The Governor of SAMA Dr. Al-Khulaifi delivered a speech in which he reviewed most important economic indicators in the annual report of SAMA, saying that due to the State's following of balanced economic policies, the Saudi economy achieved positive developments in most of its sectors in 2018. The Gross Domestic Product (GDP) at constant prices achieved a growth of 02.04 percent against 0.07 percent contraction in 2017, as the GDP of the oil sector increased by 03.01 percent, non-oil GDP grew by 02.02 percent, and prices remained stable with inflation at 02.05 percent. The current account surplus in the Kingdom's balance of payments increased significantly to reach SR 265 billion compared to a surplus of SR 39 billion in 2017, and non-oil exports increased by 22 percent to reach SR 236 billion.
The audience was attended by Prince Abdulaziz bin Saud bin Naif bin Abdulaziz, Minister of Interior; Minister of Foreign Affairs Dr. Ibrahim bin Abdulaziz Al-Assaf and Assistant Special Secretary to the Custodian of the Two Holy Mosques Tamim bin Abdulaziz Al-Salem.