Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah said that the Kingdom’s Vision 2030 allows building the economy of the region as a whole.
During his participation in the World Economic Forum “Davos”, today, Wednesday, the Foreign Minister indicated that the Kingdom is focusing on dialogue and investment for the future for the benefit of the region as a whole.
Prince Faisal continued, “We seek solid and strong economies in the region, and we cooperate with all neighboring countries.”
The minister added that the Kingdom’s economy will be the fastest growing this year.
India is expected to lose its title as the fastest growing major economy this year to Saudi Arabia, amid weak demand at home and abroad.
This comes after the first official estimate released by the Indian Ministry of Statistics indicated that the gross domestic product (GDP) would grow by 7% in the fiscal year ending in March.
This compares with expectations of growth of 6.8% by the Reserve Bank of India, as well as the average estimate in a survey of economists conducted by “Bloomberg”, and viewed by “Al Arabiya.net”.
This performance follows a growth rate of 8.7% in the previous year, and will rank second after Saudi Arabia’s expected growth of 7.6%, thanks to gains from higher energy prices.