Dr. Ibrahim Al-Assaf, Minister of Finance, and German Minister of Economy and Energy Sigmar Gabriel co-opened here today works of the Saudi-German Joint Committee. At the outset of the meeting, Dr. Al-Assaf delivered a speech in which he welcomed the German minister and his delegation, lauding the strong and historical relations binding the Kingdom of Saudi Arabia and Germany. "Despite of the sharp decline in oil prices and its impact on the general revenues of the Kingdom, the Saudi economy continues growing pushed by the government's big investment spending programs in addition to the activity of the private sector," Al-Assaf said, lauding the financial and monetary policy pursued by the state through the past few years. Al-Assaf reviewed the economic and financial situation in the Kingdom where the GDP amounted to $752 billion in 2014, pointing out that these positive results have kept the Kingdom's credit rating at (AA-) on the long term. --More 21:54 LOCAL TIME 18:54 GMT تغريد
