In a recent G20 finance meeting held in the United States, Saudi Arabia’s Finance Minister Mohammed Al-Jadaan emphasized the importance of bolstering economic resilience to safeguard against global disruptions. Highlighting growing vulnerabilities in the global economy, Al-Jadaan urged nations to enhance their capacity to absorb economic shocks by diversifying production sources, keeping adequate inventories, and ensuring critical infrastructure is equipped with sufficient spare capacity.
Al-Jadaan advocated for policies that promote robust and sustainable long-term economic growth. He suggested that governments identify key growth constraints and adapt their policies in response to evolving economic conditions. Addressing global economic imbalances, Al-Jadaan noted that trade surpluses and deficits should be evaluated in conjunction with domestic financial conditions and the structural factors influencing individual economies.
Furthermore, Al-Jadaan called for a more cohesive international approach to managing sovereign debt. He stressed that governments should focus not only on responding to debt crises but also on preventing the build-up of debt that fails to yield sustainable economic or developmental benefits. His remarks underscored the necessity of proactive measures to mitigate the risks associated with escalating sovereign debt levels.
Saudi Central Bank Governor Ayman Al-Sayari highlighted the resilience of Saudi Arabia’s economy, noting that inflation remained controlled despite external challenges. From January to July 2026, Saudi Arabia’s inflation rate averaged 1.8%. The Kingdom’s non-oil economy showed continued growth, driven by structural reforms, increased private-sector participation, and investment. The domestic demand remained a pivotal growth driver, supported by a stable labor market, government expenditure, and ongoing development initiatives.
During the first quarter of 2026, Saudi Arabia’s overall unemployment rate fell to a historic low of 3.1%, with unemployment among Saudi nationals at 6.4%. Al-Sayari pointed out the persistent risks posed by geopolitical tensions and disruptions to global trade and energy flows. He credited Saudi Arabia’s diversified logistics and energy infrastructure with mitigating the impact of these external disruptions, helping to stabilize the nation’s economic environment.