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Saudi Arabia Says It Can Handle Any Global Economic Challenges

Nov. 21 (Bloomberg) -- 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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