Structural reforms helped Saudi Arabia face challenges: Al-Jadaan

Mohammed Al-Jadaan Minister of Finance

Mohammed Al-Jadaan, Saudi Minister of Finance, said that structural reforms are pivotal and have helped the Kingdom to be flexible in facing challenges and shocks, including the current situation and geopolitical tensions.

Al-Jadaan added in a panel session at Davos that geopolitical factors and the debt situation in low-income countries, along with inflation and monetary financial conditions are direct risks. He emphasized that attention should be given to these issues by changing the policies that will drive growth.

He explained that all these factors are important for the relationship with low-income countries facing substantial debts. To achieve growth, investment is essential. For investment, the debt of these countries should be restructured to provide them with financial assets to lead their growth.

He mentioned that returns and income are all important sources. It is clear that supporting multi-stakeholder institutions is essential to stimulate investments in the private sector and developing countries, especially those with limited income.

Al-Jadaan added that he is optimistic about the World Bank, which is doing a good job. It brings various institutions together to support and stimulate investments, which will result in tangible outcomes.