JEDDAH: While the global economic growth rate declined from 3.4 percent in 2015 to 3.1 percent last year, the Kingdom’s economy grew by 1.7 percent, the Saudi Arabian Monetary Agency (SAMA) reported.
King Salman’s “wise leadership was keen on improving citizens’ standard of living, thus the pace of expenditure was maintained throughout the year, and our total spending reached SR830.5 billion ($221.45 billion),” said SAMA Gov. Dr. Ahmed bin Abdulkarim Alkholifey. “This contributed to mitigating the impact of declining oil prices on the local economy and government services.”
Alkholifey cited “several strategic initiatives to achieve a sustainable, adaptable and globally competitive economy with diversified production and sufficient job opportunities.”
He added: “International experiences of economic reforms are proof that the vital and promising structural developments through which our national economy is going to need more time to accommodate, integrate and adapt its different sectors.”
Alkholifey cited various positive indicators, including total assets of commercial banks increasing by 2.2 percent to more than SR2.5 trillion; bank credit to the private and public sectors increasing by 2.8 percent to about SR1.4 trillion; and the banking sector’s profitability remaining high compared to global performance, with a return on assets of 1.8 percent and a return on equity of 12.6 percent by the end of 2016.
He said SAMA’s 53rd annual report showed that banks continued to provide modern and comprehensive financial services through diverse channels across the Kingdom.
“SAMA is focused on raising financial awareness and improving financial inclusion across Saudi Arabia. We hope this will contribute remarkably to diversifying the economy,” he said.
The Financial Sector Development Program, approved by the Council of Economic and Development Affairs, aims to increase the financial sector’s efficiency in supporting the development of the national economy, diversifying its income sources, and enhancing the sector’s ability to promote saving, financing and investing, Alkholifey added.
“In order to achieve this, we seek to empower financial institutions to support private sector growth,” he said.
“The program is also keen on building a sophisticated financial market, improving the saving system and financial planning, and enabling the sector to maintain harmony in achieving other strategic objectives, particularly the stability of the financial sector.”
Alkholifey said SAMA is working to fulfill its mission by meeting the needs of the national economy and achieving Vision 2030. King Salman commended the agency’s efforts to serve the economy.
Saudi economy grew in 2016 despite global slump: SAMA
Saudi economy grew in 2016 despite global slump: SAMA
The secret keepers of desert balance in Saudi Arabia
- How the Kingdom’s wildcats control pests, protect public health, and sustain the ecosystem
RIYADH: During the summer of 2024, two desert lynx kittens were born in Taif as part of Saudi Arabia’s efforts to protect and increase the population of caracals in the country.
Although caracals are critically endangered, wildcats in general play a significant ecological role in the Kingdom. They act as natural pest control, and Saudi Arabia is committed to conserving these species while increasing their populations to support a thriving ecosystem.
Despite the Kingdom’s harsh, arid climate, conditions are suitable for wildcats not only to survive but also to flourish. Among the terrestrial species inhabiting Saudi Arabia are sand cats, Arabian wildcats, and the desert lynx.
Felis margarita, or sand cats, are small — around 40-60 cm — with pale sandy fur that allows them to blend into the desert. They have a broad head, large ears, and long hair on the bottom of their feet to walk on hot sand.
“It is small in size and does not mate with other cats. It is the only cat species in the world with hair on the soles of its feet instead of skin to prevent it from sinking into the sand,” said Obaid Alouni, a Saudi environmentalist.
Alouni explained that one defensive technique sand cats use is to lie flat on the ground to avoid detection.
“It lies flat on the ground when it senses danger to avoid being noticed by other animals.”
These cats primarily feed on rodents and small reptiles, occasionally large insects, obtaining their water from their prey. Sand cats are native to West Asia and help regulate rodent and insect populations, preventing outbreaks and reducing disease spread.
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Interestingly, raising sand cats as domestic pets is becoming more popular, Alouni said. But he emphasized that adoption is easier when they are kittens, as they remain wild animals. Although widely distributed across the Kingdom, exact population numbers are difficult to determine due to their elusive nature. They are currently listed as “least concern” by the International Union for Conservation of Nature.
Similar to sand cats, Arabian wildcats (Felis lybica) are found across the Arabian Peninsula and play a vital role in environmental health.
“They are wild cats that live independently without human intervention,” Alouni told Arab News.
Arabian wildcats resemble domestic cats but have thicker, sandy to grey-brown coats with faint stripes or spots and ringed tails with blunt tips. Like sand cats, they feed on rodents, birds, reptiles, and insects and are listed as “least concern” by the IUCN.
However, Alouni warned that pure populations of Arabian wildcats in Saudi Arabia could be threatened by hybridization with domestic cats.
“Currently, wild cats face the problem of interbreeding with domestic cats. This weakens their immune systems and makes them more susceptible to diseases from other cats,” he said.
“This contributes to the extinction of the purebred lineage and, consequently, the disappearance of their wild instincts,” he added.
DID YOU KNOW?
• Sand cats are the only cat species with hair on the soles of their feet, allowing them to walk on hot sand without sinking.
• Caracals, locally known as Al-Washaq, are native and endangered, capable of jumping 3 to 4 meters in a single leap.
• Pure populations of the Arabian wildcat are at risk due to hybridization with domestic cats.
While both species are desert dwellers, sand cats are harder to spot as they avoid heavily trafficked areas. They are mainly found in the Ad Dahna desert and the Empty Quarter, where sand dunes dominate the landscape. Arabian wildcats, however, inhabit rocky or mountainous areas such as the Tuwaiq Mountains, valleys, and farms with abundant small prey.
“Wild cats come around towns and villages, and unfortunately, begin mating with domesticated cats that people release outside,” Alouni explained. He stressed the importance of keeping domestic cats away from wildcat habitats, including deserts and camping sites.
The third wildcat species native to Saudi Arabia, the caracal or desert lynx, is critically endangered. “The lynx is classified in size between large and small, and is distinguished by its jump, which can reach 3 meters or even 4 meters in the sky,” Alouni described.
Locally known as Al-Washaq, desert lynx have reddish-tan coats, long legs, and black-tufted ears. They feed on birds, rodents, and sometimes small antelopes. Thankfully, these cats are protected under Saudi law due to their critically endangered status.
Hunting any sand cats, Arabian wildcats, or desert lynx can result in fines of approximately $20,000, according to the Saudi Ministry of Environment, Water, and Agriculture.
“There is a very severe financial penalty in Saudi Arabia for anyone who hunts it,” Alouni added.
The Kingdom has strict regulations to protect endangered animals, criminalizing not only hunting or killing but also trade. Violators could face penalties of up to $8 million, up to 10 years in prison, or both.
Overall, sand cats, Al-Washaq, and Arabian wildcats are essential to maintaining a healthy environment in Saudi Arabia. By controlling rodent populations, they help prevent outbreaks that could threaten agriculture and public health.
