At a G20 finance meeting in the United States, Saudi Arabia’s Finance Minister Mohammed Al-Jadaan emphasized the need for countries to bolster their economic resilience and safeguard against potential global disruptions. Al-Jadaan pointed out the increasing vulnerabilities within the global economy, urging the development of alternative production sources, adequate inventory maintenance, and the expansion of critical infrastructure capacities to better absorb shocks.
Al-Jadaan underscored the importance of policies fostering strong and sustainable long-term economic growth. He advised that governments should pinpoint the primary constraints impeding growth and adapt their policies in response to evolving economic conditions. Addressing global economic imbalances, he suggested that trade surpluses and deficits should be evaluated in conjunction with domestic financial conditions and the structural factors that influence individual economies.
Additionally, Al-Jadaan called for a more robust international strategy regarding sovereign debt, advocating for proactive measures to prevent the accumulation of unsustainable debt rather than merely reacting to crises. This approach is intended to ensure that debt contributes positively to economic and developmental progress.
Saudi Central Bank Governor Ayman Al-Sayari highlighted Saudi Arabia’s economic resilience, noting that the country’s inflation rate averaged 1.8% in the first seven months of 2026, despite external risks. The Kingdom’s non-oil economy has continued to grow, driven by structural reforms, increased private-sector participation, and investment. A stable labor market, government spending, and ongoing development projects have bolstered domestic demand, serving as key growth drivers.
Al-Sayari also pointed out that Saudi Arabia’s unemployment rate dropped to a record low of 3.1% in the first quarter of 2026, with unemployment among Saudi nationals at 6.4%. He warned that geopolitical tensions and disruptions to global trade and energy flows remain significant risks. However, Saudi Arabia’s diversified logistics and energy infrastructure have mitigated the impact of these external disruptions, contributing to the nation’s economic stability.
