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00:00 "We chose to be in Riyadh because of the distinguished relationship between the IMF and the Kingdom of Saudi Arabia.
00:09 There are lasting partnerships and they are getting stronger day by day.
00:14 The center will have a major role in the dialogue on regional economic policies.
00:27 It will have a major role in strengthening the regional capabilities.
00:31 It will also have a major role in building bridges with the region.
00:37 It will also have an important role in strengthening cooperation with the Arab and Islamic financial institutions in the Gulf.
00:47 We were happy today to have the president of the Islamic Bank to open the conference.
00:55 The center will be a major center for the IMF to discuss regional economic policies.
01:04 In terms of numbers, is there an expected growth rate for this year and the next year,
01:14 both at the level of the Saudi economy and the global economy?
01:17 What is your outlook for this year?
01:20 In terms of the global economy, we published our annual report in April.
01:31 In terms of the global economy, there is a decrease in the global growth rate.
01:37 There is an expectation of a decrease in the average growth rate.
01:41 But in this area, we expect to see an increase in the global economic growth rate.
01:48 For example, the global economic growth rate will be 3.2% this year.
01:53 The economic growth rate in the Kingdom of Saudi Arabia, for example,
01:59 will be 4% outside the oil sector.
02:04 The economic growth rate in the non-oil sector was 3.6% last year.
02:10 This year, it will be 4%.
02:13 The economic growth rate is much faster outside the oil sector than it is at the global level.
02:20 The continuous reforms and revolutions in the Kingdom of Saudi Arabia
02:26 will continue to increase the growth rate in the coming years.