Vice-Custodian of the Two Holy Mosques chairs Cabinet's session

SPA - The Cabinet affirmed the points the Custodian of the Two Holy Mosques reiterated on many occasions, including Makkah and Madrid conferences and the meeting of New York, that focus throughout history on points of disagreement among followers of religions and cultures led to fanaticism causing thereby destructive wars in which a lot of blood was spilled with no justification or sound thinking.

The Acting Minister of Culture and Information said that the Cabinet
highlighted the participation of the Custodian of the Two Holy
Mosques in the economic summit of the Group of Twenty held in
Washington on Saturday and his address to the participants which
maintained that the financial crisis revealed the dangers of
undisciplined globalization and inadequate control which call for
boosting international coordination and cooperation and developing
surveillance of the financial sectors. The Cabinet also noted his
statement that the kingdom will work hard to immunize its economy
through the program of government investment and will continue
implementation of this program by spending on basic projects and
services and enhancing the absorptive capacity. It is expected that
this program’s allocation for government and oil sectors will exceed
$400 billion over the next five years. The King also pointed out that
the kingdom will continue to fulfill its role in working to ensure
the stability of the oil market, hoping for the cooperation of the
consuming countries by not adopting policies that adversely affect
the oil sector. He also stressed that the kingdom will continue its
policies of helping developing nations on the basis of fair sharing
of burdens in any international efforts addressing the crisis and its
consequences.
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