(MENAFN- Kuwait News Agency (KUNA)) Oil generates up to 90 percent of Saudi Arabia's income but sometimes less than this percentage depending on oil revenues, finance minister Ibrahim Al-Assaf said Sunday.
Al-Assaf, quoted by official news agency (SPA) following the announcement of a new budget, said oil would remain a major energy source worldwide even if other energy sources gained ground.
However, he added, other income resources should be boosted.
The Saudi national economy's growth range between 6-7 percent, amongst the world's highest, said Al-Assaf. He added that Saudi Arabia was carrying out its economic reforms which would thus create suitable investment environment.
The Saudi economy is in "good and assuring condition," said Al-Assaf and the country was prepared for "difficult circumstances it might face in future."
The Saudi national currency, Riyal, will remain begged to the US Dollar, he said.
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