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World economy will rise again: Shaikh Salman

Manama, March 25, 2009

Crown Prince and Deputy Supreme Commander Shaikh Salman bin Hamad Al Khalifa expressed hope that the world economy would start to rise again following the global financial crisis.

The GCC is a blessed region and the impact of the crisis will be limited thanks to increased co-operation among the Gulf states, he told central bank governors from Kuwait, Qatar and Oman at a meeting at Riffa Palace.

Shaikh Salman said he had complete trust in the benefits of co-operation between treasuries in the Gulf.

The Crown Prince stressed the need to adhere to capitalism and follow scientific basis to protect and promote it while avoiding its assessment from a crisis point of view.

Attention has to be paid to the historical outcome of this system that contributed to the advancement of humanity and the protection of its achievements, he said.

Shaikh Salman also called for optimism in efforts to overcome the crisis and restore the economy of the region to its state of prosperity and growth soon.

Central Bank of Bahrain Governor Rasheed Al Maraj, Crown Prince Court head Shaikh Khalifa bin Duaij Al Khalifa and GCC Assistant under-secretary for Economic Affairs Dr Nasser Ibrahim were present.-TradeArabia News Service




Tags: economy | GCC | global financial crisis |

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