SAMA report: Saudi GDP grew 3.4 percent in 2007

September 23, 2008

Saudi Arabia’s gross domestic product (GDP) grew by 3.4 percent in 2007 while its budget surplus in the year reached 12.3 percent of the GDP, according to the 44th Saudi Arabian Monetary Agency (SAMA) annual report.


SAMA Governor Hamad Al-Sayyari presented the report to the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz at Al-Safa Palace in Makkah yesterday.

Al-Sayyari said that the Kingdom’s private sector grew by 5.8 percent and its public sector by 2.7 percent in 2007. The Kingdom’s balance of payment also recorded surplus for the ninth consecutive year, reaching 24.9 percent of the GDP.

King Abdullah also met with Lebanese Prime Minister Fuad Siniora yesterday to discuss the situation in Lebanon and bilateral cooperation.