Saudi Arabia has urged the global community to enhance economic resilience and bolster defenses against potential global disruptions. During a G20 finance meeting in the United States, Finance Minister Mohammed Al-Jadaan emphasized the growing vulnerabilities affecting the global economy. He advocated for economies to fortify their shock absorption capabilities by diversifying production sources, maintaining ample inventories, and ensuring critical infrastructure possesses adequate spare capacity.
Al-Jadaan stressed the importance of policies that foster robust and sustainable long-term economic growth. He advised governments to identify key growth constraints and adapt their policies in response to evolving economic conditions. Addressing global economic imbalances, Al-Jadaan highlighted the need to evaluate trade surpluses and deficits alongside domestic financial conditions and the structural factors influencing individual economies.
In addition, Al-Jadaan called for a more cohesive international strategy regarding sovereign debt. He emphasized that governments should not only react to debt crises but also take proactive measures to prevent the accumulation of unsustainable debt that fails to generate economic or developmental benefits. Meanwhile, Saudi Central Bank Governor Ayman Al-Sayari underscored the Kingdom’s economic resilience, noting that inflation was kept in check despite external challenges. Saudi Arabia’s inflation rate averaged 1.8% during the first seven months of 2026.
The Kingdom’s non-oil economy continued to thrive, buoyed by structural reforms, increased private-sector involvement, and investment. Domestic demand remained a key growth driver, supported by a stable labor market, government expenditure, and ongoing development initiatives. Saudi Arabia’s overall unemployment rate dropped to a historic low of 3.1% in the first quarter of 2026, with unemployment among Saudi nationals recorded at 6.4%.
Al-Sayari noted that geopolitical tensions and disruptions to global trade and energy flows pose significant risks. However, he pointed out that Saudi Arabia’s diversified logistics and energy infrastructure have mitigated the impact of external disruptions, reinforcing the Kingdom’s economic stability.