2005 News Story

Annual SAMA report shows rapid growth in the Saudi economy

Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz received today the 41st annual report of the Saudi Arabian Monetary Agency (SAMA) with a review of domestic economic developments in the fiscal year 2004 as well as the latest data for 2005.

SAMA Governor Hamad Al-Sayyari, who delivered the report to the King, said that in 2004 the Saudi economy continued its rapid growth in various sectors for the third consecutive year. He stated that the national income increased by 16.8 percent, and that the real Gross Domestic Product grew by 5.3 percent. The Kingdom’s general finance recorded a surplus of SR 107 billion [US $28.5 billion].