Saudi Finance Minister Muhammad Al-Jadaan expressed fear that the world is going to witness a very difficult situation in six months from now. Economic challenges such as high interest rates and inflation persist in almost all countries.
According to Arab News and Al Arabiya, while speaking at the Future Investment Summit in Riyadh, he said that the Gulf region will remain stable during these crises. Saudi Arabia will help regional countries facing challenges in this difficult time.
He said that the region is largely divided into two parts, one of which is a Gulf region. The next six months and possibly the next six years will be very good for them.
Mohammad Al-Jadaan said that Saudi Arabia has faced similar difficult situations in the past. Planned and formulated strategies to deal with problems. The kingdom succeeded in overcoming the difficulties faced by the G20 and other development organizations.
Mohammad Al-Jadaan said that Saudi Arabia is working together with Indonesia as the current chairman of the G20. They are helping countries with limited income in terms of food.
The Saudi finance minister said that Saudi Arabia is trying hard to reduce carbon emissions. The international community is recognizing the fact that renewable energy solutions may not be quick. It may take up to 30 years.
According to Al-Akhbariya channel, the finance minister said that the international community needs stability and funding. Limited funding is a critical requirement, especially in the context of rising interest rates and inflation. Many countries are facing difficult situations. Especially the problem of loans has created difficulties.
Saudi Arabia is striving for economic growth. There is an effort to limit financial risks with the cooperation of G20 countries.
The finance minister expressed fear that the international community will face difficult situations in the coming months due to war and tension in European countries, but the next six years will prove to be good for the Gulf countries.