JEDDAH, Saudi Arabia (Reuters) - Saudi Arabia’s inflation levels are not worrying and will continue to decline, the country’s central bank governor Muhammad Al-Jasser said on Saturday.
“Inflation levels are not worrying. Inflation has become stable since the beginning of the year between around 4.6 and 4.9 (percent)... I expect it to continue its decline,” Al-Jasser told reporters on the sidelines of a conference in Riyadh.
Al-Jasser also said that lending levels had risen by more than 9 percent in 2011. “In reality, lending has risen by more than 9 percent this year ... an excellent level,” he said.
Reporting by Ibrahim al-Mutawa; writing by Asma Alsharif