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Saudi GDP increased by 129 per cent over the past decade

Volume of general government debt in KSA fell to less than two per cent of GDP last year

Abdullatif bin Ahmed Al-Othman, governor of the Saudi Arabian General Investment Authority (SAGIA), announces the increase in the Kingdom’s GDP from $328 billion in 2005 to approximately $752bn last year, achieving a record growth rate of 129 per cent.

Al-Othman notes during the opening of the Saudi-Russian Investment Forum in Moscow that the volume of the general government debt in Saudi Arabia fell to less than two per cent of GDP last year, Qatar News Agency (QNA) reports.

He points out that, during the forum, Saudi Arabia and Russia signed 15 joint agreements and memoranda of understanding in different fields, such as the distribution of Russian products in the Saudi market, expansion of Russian ports’ services in the Kingdom, marketing of Russian oil products in Saudi Arabia, cooperation in training Saudi cadres in the IT and telecom sectors, electricity and water stations’ maintenance and operation and vocational and technical training, among others.

($1=AED3.67, at the time of publishing)