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Mon 12 Dec 2011 06:45 PM

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Saudi Arabia's GDP growth seen at 5.1% in 2011

Kingdom's central bank also says that budget surplus is likely to reach 9.1% of GDP

Saudi Arabia's GDP growth seen at 5.1% in 2011
Saudi Arabias central bank expect the countrys GDP growth to hit 5.1 percent this year.

Saudi Arabia's central bank expects the kingdom's real gross domestic product to rise by 5.1 percent in 2011, and the budget surplus is likely to reach 9.1 percent of GDP this year, it said in its annual report on Monday.

"The preliminary projections of the model show that GDP at current prices could rise by 5.1 percent in 2011," the report published on its website said.

"It is expected that the fiscal balance of the kingdom would record a surplus of about 185.3 billion riyals ($49.4 billion), namely about 9.1 percent of total GDP in 2011," it also said.

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