A top Treasury official said at an economic conference that the Unites States will keep growing regardless of a fragile global recovery. At the same time, Saudi Arabia’s Central Bank Governor said the greenback (dollar) presents Saudi Arabia well as a peg but later may face competition as the world’s reserve currency in future. Growth of the world’s largest economy is assumed to cool in 2010 after the storm of activity late last year, whereas sentiment for the dollar, utilized as a currency peg in most of the Gulf is recovered.

The U.S. economy is assumed to grow by 2.9 percent in 2010 after an estimated reduction of 2.4 percent in 2009 according to Reuters poll. As the recovery acquired strength in the U.S., the euro zone GDP increased by nearly 0.1 percent in the fourth quarter. The country’s central bank head said the dollar is helping Saudi Arabia’s economy effectively, even though its reserve currency status could be stimulated as the euro is attaining importance.