Saudi Gazette report

RIYADH — Saudi Finance Minister Mohammed Al-Jadaan emphasized the significance of Vision 2030 for both the Kingdom and global investors.

Al-Jadaan made his remarks during the special meeting of the World Economic Forum held in Riyadh in a session, titled "What Kind of Growth Do We Need?".

The session was part of a broader discussion on international cooperation and economic growth for development in 2024, attended by over a thousand global leaders.

Al-Jadaan highlighted the geopolitical risks that currently prioritize the global economy and mentioned that Saudi Arabia has been actively working to de-escalate tensions in the region.

He stressed the need for the region to focus on growth and development rather than political conflicts.

The session also featured remarks from Kristalina Georgieva, managing director of the International Monetary Fund, who pointed out the growing disparities between advanced and emerging economies.

She warned that the fragmentation in global economic outlooks is stalling growth, and noted the challenges posed by high interest rates and the gradual easing of inflation pressures globally.

Georgieva also highlighted the economic impact of the COVID-19 pandemic, which cost the world economy approximately $3.3 trillion.