Saudi King Says Nation’s Economic Situation Is Good, SPA Reports

Saudi Arabian King Abdullah said the kingdom was stable with a “particularly” good economy, the official Saudi Press Agency reported, citing a speech given by the king late yesterday to senior Saudi officials.

“Everything in Saudi Arabia is now good, particularly the economic situation that pushed the country to a satisfactory situation internationally,” Abdullah was cited as saying by the official news service. He called on citizens to “help me to go the way to serve this religion and nation,” SPA said.

Saudi Arabia was mostly unscathed by popular uprisings in the Middle East over the past year. The economy of the world’s largest oil export expanded 6.8 percent last year, according to data on the website of the kingdom’s central bank.

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

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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