Saudi Finance Minister Says 2013 Growth Will Top 4.4%

The International Monetary Fund forecasted Saudi Arabia’s GDP growth at 4.4 per cent, down from 6.8 per cent in 2012.

Saudi Arabia’s economy should grow this year by more than the 4.4 per cent anticipated by the International Monetary Fund, its finance minister said in comments reported by the official Saudi Press Agency late on Tuesday.

“The IMF report this year on the Saudi economic growth forecast 4.4 per cent. We do not agree with them and our opinion is that the Kingdom’s economic growth will be higher,” SPA reported Ibrahim Alassaf as saying.

Saudi Arabia’s gross domestic product rose 6.8 per cent last year after growing 8.5 per cent in 2011.

Growth in the world’s top oil exporter is typically connected to energy prices and government spending, which have this year remained strong.