Saudi Arabia is advocating for a bolstered economic framework to better withstand future global disturbances, as highlighted by Finance Minister Mohammed Al-Jadaan during a G20 finance meeting in the United States. Al-Jadaan emphasized the growing vulnerabilities in the global economy, urging countries to enhance their resilience by diversifying production sources, maintaining sufficient inventories, and ensuring that critical infrastructure can handle unexpected strains.
Emphasizing sustainable growth, Al-Jadaan called for strategic policies that foster long-term economic health. He encouraged governments to identify and overcome primary growth constraints, adapting their strategies as economic landscapes evolve. Al-Jadaan also addressed global economic imbalances, suggesting a thorough assessment of trade surpluses and deficits in the context of domestic financial conditions and the structural characteristics of individual economies.
The Saudi finance minister advocated for a unified international strategy regarding sovereign debt, emphasizing the importance of not only responding to debt crises but also preventing the accumulation of unsustainable debt that fails to contribute to economic or developmental gains. Meanwhile, Saudi Central Bank Governor Ayman Al-Sayari underscored the Kingdom’s economic strength, noting that inflation averaged a contained 1.8% during the first seven months of 2026, despite external pressures.
Al-Sayari highlighted the growth of Saudi Arabia’s non-oil economy, driven by structural reforms, private-sector engagement, and investment. The stable labor market, along with government expenditure and continuous development initiatives, has supported domestic demand as a key growth driver. The Kingdom’s overall unemployment rate fell to a historic low of 3.1% in the first quarter of 2026, with unemployment among Saudi nationals at 6.4%.
Despite these positive indicators, Al-Sayari acknowledged ongoing risks posed by geopolitical tensions and disruptions in global trade and energy flows. He credited Saudi Arabia’s diverse logistics and energy infrastructure with mitigating the effects of such external disturbances, reinforcing the Kingdom’s resilience in the face of global economic challenges.