Saudi Arabia’s King Salman receives 55th monetary authority’s annual report

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The report was presented to the king at Al-Salam Palace in Jeddah by Finance Minister Mohammed Al-Jadaan and SAMA Gov. Dr. Ahmed Alkholifey. (SPA)
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The report was presented to the king at Al-Salam Palace in Jeddah by Finance Minister Mohammed Al-Jadaan and SAMA Gov. Dr. Ahmed Alkholifey. (SPA)
Updated 04 September 2019

Saudi Arabia’s King Salman receives 55th monetary authority’s annual report

  • The report reviewed economic and financial developments in the country during 2018
  • The king noted SAMA’s important role in serving the national economy

JEDDAH: King Salman on Wednesday received the 55th annual report of the Saudi Arabian Monetary Authority (SAMA), which reviewed economic and financial developments in the country during 2018.
The report was presented to the king at Al-Salam Palace in Jeddah by Finance Minister Mohammed Al-Jadaan and SAMA Gov. Dr. Ahmed Alkholifey. The king noted SAMA’s important role in serving the national economy.
Alkholifey reviewed key indicators in SAMA’s report, and said due to the state following balanced economic policies, the Saudi economy saw positive developments in most of its sectors in 2018.
Gross domestic product (GDP) at constant prices grew 2.4 percent against a 0.7 percent contraction in 2017.
The GDP of the oil sector increased by 3.1 percent, non-oil GDP grew by 2.2 percent, and prices remained stable with inflation at 2.5 percent.
The current account surplus in the Kingdom’s balance of payments increased significantly to SR265 billion ($70.6 billion), compared to a surplus of SR39 billion in 2017. Non-oil exports increased by 22 percent to reach SR236 billion.
The meeting was attended by Interior Minister Prince Abdul Aziz bin Saud bin Naif, Foreign Minister Ibrahim Al-Assaf and Tamim bin Abdul Aziz Al-Salem, assistant special secretary to the king.
Also on Wednesday, King Salman received Nasser Hamdy, who bid farewell to the monarch on the occasion of the end of his tenure as Egypt’s ambassador to Saudi Arabia.


KSRelief launches prosthetics' center in Taiz

Updated 23 January 2020

KSRelief launches prosthetics' center in Taiz

TAIZ: The King Salman Humanitarian Aid and Relief Center (KSRelief) on Wednesday launched an artificial limb center in Taiz, Yemen, providing high-quality prosthetics for up to 600 patients.

Abdulqawi Al-Mikhlafi, who is the deputy governor of Taiz, expressed his appreciation for the Kingdom’s generous support to Yemen across all sectors over the past few years, particularly in the areas of health, the environment and development.

Al-Mikhlafi said such efforts helped local authorities to deal with the many challenges they faced in providing comprehensive services to needy Yemenis.

He added that the Kingdom’s support reflected the deep historical and cultural ties between the people of Yemen and Saudi Arabia, and he praised the Kingdom for standing by the country and its government for more than 50 years.

Dr. Elan Abdul Haq, deputy governor of Taiz for health affairs, thanked KSRelief for its continued support for Taiz and Yemen, assistance he said had alleviated the suffering of millions of Yemenis during the ongoing conflict.

The head of the Artificial Limbs Center, Mansour Al-Wazei, announced that the center would begin receiving patients soon, providing vital aid to amputees for whom prosthetics meant regaining the ability to live full and productive lives.