Saudi Arabia seeks to speed up implementation of structural reforms: Al-Jadaan

Mohammed Al-Jadaan, Minister of Finance

Saudi Arabia seeks to progress at a faster pace to implement comprehensive structural reforms, including financial sector reforms, Saudi Press Agency reported, citing Mohammed Al-Jadaan, Minister of Finance and Chairman of Financial Sector Development Program.

This will be achieved through implementing strategies, programs and projects that drive sustainable economic growth and raise the quality of life, in accordance with Vision 2030.

Al-Jadaan said that this comes in order to achieve high growth rates and provide greater employment opportunities, in addition to raising the level of basic and social services, enhancing the role of the private sector, and, developing local content and industry, while also boosting the Kingdom's strong financial position.

The minister said the second edition of the Financial Sector Conference, scheduled for March 15-16 at King Abdulaziz International Conference Center, comes at an important stage, as the regional and international financial community aspire to face and overcome the challenges witnessed by the global economy.

This is starting with a slowdown in growth rates and high inflation rates, to the uncertainty that was reflected in the fluctuations of supply chains globally, the minister pointed out.

Al-Jadaan stressed that the Kingdom is well-positioned, thanks to the guidance of the leadership and the proactive policies implemented by government, which contributed to reducing the impact of these challenges.

Meanwhile, he noted that the Saudi economy achieved tangible positive developments at the economic and financial levels during 2022, as it exceeded previous local and international expectations.