Saudi real GDP grew by 6.8 percent in 2012
March 3, 2013
The Kingdom’s economy has grown for the thirteenth straight year in a row, Governor of the Saudi Arabian Monetary Agency (SAMA) Dr. Fahd bin Abdullah Al-Mubarak announced today. Speaking at a press conference held in Riyadh to mark the issuance of SAMA’s 48th annual budget report, Al-Mubarak reported that Saudi Arabia’s real gross domestic product (GDP) grew by 6.8 percent in 2012. He added, “In 2012, the actual surplus in the state budget amounted to SR 386 billion [$102.92 billion], where the volume of public debt declined to less than SR 100 billion [$26.66 billion], which is less than 4 percent of the GDP. The Kingdom has achieved a balance of payments surplus estimated at SR 670 billion [$178.65].” Al-Mubarak also noted that the rate of inflation declined from 5 percent in 2011 to 4.6 percent in 2012.