Al-Jadaan optimistic about situation in Gulf region over next 6 years

Saudi Arabia’s Minister of Finance Mohammed Al-Jadaan

Saudi Arabia’s Minister of Finance Mohammed Al-Jadaan said that it is hard to predict the difficult future conditions. However, he is optimistic about the future of the Gulf region, expecting steadiness over the next six years.

During the Future Investment Initiative (FII) Conference, Al-Jadaan noted that the Kingdom is working with international organizations in order to help solve the challenges facing the world. This brings together multilateral development institutions to ensure support for regional countries.

Saudi Arabia is working with the G20 to provide support to all countries worldwide and low-income companies in terms of energy and food. This helps provide the necessary multilateral support, while keeping an eye on the stability of the Kingdom, which is ready for economic growth, the minister noted.   

He also explained that cooperation and synergy between all countries is a must to adapt to the current conditions. The world needs stability and forecasting to provide financing in light of high inflation, interest and debt rates of some countries.

Currently, there is more recognition and mentation about energy and renewables, he said, pointing out that the transition, which does not take one, two or 20 years, but rather investment in energy security, is in the cards.

Tags: Saudi Arabia, News, Future Investment Initiative, Minister of Finance, Mohammed Al-Jadaan, Energy, Renewable Energy, GCC Countries