Middle-east Arab News Opinion | Asharq Al-awsat

Saudi Arabia to Promote Private Sector-Saudi King - ASHARQ AL-AWSAT English Archive
Select Page

RIYADH, (Reuters) – Top OPEC exporter Saudi Arabia has been largely unaffected by a global financial crisis and will continue to encourage private sector growth and pursue a moderate oil policy, King Abdullah said on Sunday.

“Thanks to God, we have not been much affected by the crisis,” King Abdullah told the Gulf Arab state’s quasi-parliament, the Shura Council, according to a speech carried by the state news agency SPA.

He said the kingdom, a member of the G20 group which is seeking to lower its dependence on oil, would continue to help drive private sector growth.

“We will not stop to create the appropriate climate to have participation of private sector institutions and its growth with God’s help,” he said.

Saudi Arabia would also continue its policy of “moderation” in oil policy after having helped with its policy to limit the impact of the global crisis on stability of oil markets and producers and consumers.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More Posts

Follow Me:
FacebookGoogle PlusYouTube