At a recent G20 finance meeting in the United States, Saudi Arabia’s Finance Minister Mohammed Al-Jadaan emphasized the need for bolstering economic resilience to guard against future global disruptions. Highlighting the growing vulnerabilities in the world economy, Al-Jadaan urged nations to enhance their shock absorption capabilities by diversifying production sources, maintaining ample inventories, and ensuring that critical infrastructure possesses sufficient spare capacity.
Al-Jadaan also underscored the importance of implementing policies that promote robust and sustainable long-term economic growth. He advised governments to identify primary growth constraints and adapt their policies in response to evolving economic conditions. Addressing global economic imbalances, Al-Jadaan pointed out that trade surpluses and deficits should be evaluated in conjunction with domestic financial situations and the structural elements influencing individual economies.
Further, Al-Jadaan advocated for a more robust international strategy towards sovereign debt. He emphasized that governments should focus not only on responding to debt crises but also on preventing the accumulation of unsustainable debt that fails to contribute to economic or developmental progress.
Saudi Central Bank Governor Ayman Al-Sayari highlighted the resilience of the Kingdom’s economy, noting that despite external risks, inflation has remained contained, averaging 1.8% in the first seven months of 2026. The non-oil sector of Saudi Arabia’s economy continues to grow, driven by structural reforms, increased private-sector participation, and ongoing investment. Domestic demand is supported by a stable labor market, government expenditure, and ongoing development projects.
Al-Sayari also pointed out that geopolitical tensions and disruptions to global trade and energy flows continue to pose significant risks. However, he noted that Saudi Arabia’s diversified logistics and energy infrastructure has mitigated the impact of these external challenges. The Kingdom achieved a record low unemployment rate of 3.1% in the first quarter of 2026, with unemployment among Saudi nationals at 6.4%.
