To: Wharf Rat who wrote (146537 ) 10/28/2014 1:12:24 PM From: pcstel Respond to <If he was incompetent, we wouldn't be doing better than everybody else in the G-20<imf.org 1 with Saudi Arabia.The Saudi economy grew strongly by 4 percent in 2013, owing to robust growth in the non-oil private sector. The unemployment rate of nationals fell over the past year, especially among women. Inflation has eased to 2.7 percent in May 2014, largely reflecting lower food price inflation in line with international trends. Credit growth also eased but remained at robust levels. The economy has not been affected by global financial market volatility, and the banking system is well-capitalized and profitable. High oil prices and output have led to large fiscal and external surpluses and international reserves have increased. However, fiscal breakeven oil prices have risen owing to strong growth in public spending. Consistent with the exchange rate peg, monetary policy settings have remained unchanged.http://www.bea.gov/newsreleases/national/gdp/2014/gdp4q13_3rd.htm Real GDP increased 1.9 percent in 2013 (that is, from the 2012 annual level to the 2013 annual level), compared with an increase of 2.8 percent in 2012.
