Losses of 10 billion dollars in Saudi Arabia

The Saudi minister of trade Osama El-Fakih yesterday estimated the losses of Saudi Arabia due to the drop in oil prices to be about 10 billion dollars. El-Fakih on the occasion of convening the first meeting for Saudi - Iranian committee, said that the Saudi petroleum exports amounted to 55 billion dollar last year, adding that the Saudi economy achieved a growth of 8% last year, a rate that will not be matched this year.