Saudi total spending on projects reaches USD1.17t

10 Jun 2015

(MENAFN) The total spending over development projects in Saudi Arabia reached a total of USD1.17 trillion, 30 percent of which were injected into capital projects, according to the governor of Saudi Arabian Monetary Agency (SAMA), Arab News reported.

The overall economic situation in Saudi is commendable for its security and steadiness, and SAMA’s role is vital in solidifying and motivating further economic growth for the country, the governor said.

“The national economy has achieved good results in 2014 with GDP making an actual growth rate of 3.5 percent, exceeding the rate of 2.7 percent achieved in 2013 and the world average of 3.4 percent,” the governor’s statement added.

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