The Kingdom of Saudi Arabia clearly stands out as one of the most prominent countries responsible for promoting economic stability at the global level, especially after assuming the presidency of the G20 and its prominent membership in the International Monetary and Financial Affairs Committee of the International Monetary Fund.
In an exceptional development for the Saudi role on the international arena,The Kingdom chaired the “Affairs Committee“ Monetary and Financial” of the International Monetary Fund, which is considered the most important economic and financial committee in the world.
The Kingdom’s presidency of the “Monetary and Financial Affairs Committee” reflects…International Monetary FundIts strong commitment to international cooperation and supporting economic stability at the global level, according to statements by the Director of the Middle East and Central Asia Department at the International Monetary Fund, Dr. Jihad Azour.
Dr. Jihad Azour commented, during a television interview on Al-Ekhbariya channel, that they are counting on that, especially after the Kingdom chaired the G20 for three years, and now it has returned to assume the presidency of the most important economic and financial committee in the world, pointing to the fluctuations in the global economy that we are witnessing.
This requires thinking about the necessary measures to ensure the continuation of economic and financial stability at the global level, not only through achieving stability but also through cooperation in Facing challenges faced by the economies of developing countries and low-income countries, which emphasizes the importance of the Saudi role in this context.
Azour also spoke about the success of the Saudi economy in confronting external shocks over recent years, especially the non-oil sector, which was able to overcome multiple challenges starting from the Corona pandemic to the volatile geopolitical conditions in the region.
He pointed out that the non-oil sector has been characterized by its steady growth, as it has become a major driver of economic growth for the years 2023 and 2024. In addition, raising the level of expected oil production is expected to enhance the Kingdom’s gross domestic product, which reflects the ongoing efforts in reforms and investments to strengthen the sector. Non-oil.
