Saudi Arabia Says It Can Handle Any Global Economic Challenges

Saudi Arabia, the world’s largest oil supplier, has the means to deal with any “renewed” economic challenges, Finance Minister Ibrahim al-Assaf said during a speech in Riyadh today.

“All countries are affected by the crisis in Europe, resulting in a more generalized economic slowdown,” al-Assaf said. “Saudi Arabia has been able to better withstand the headwinds of the crisis from its outset and, if worse comes to worse, I am confident that we have the means to deal with any renewed challenges.”

Saudi Arabia is also committed to stable oil markets, al- Assaf said.

To contact the reporter on this story: Glen Carey in Dubai at gcarey8@bloomberg.net

To contact the editor responsible for this story: Inal Ersan at iersan@bloomberg.net

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