Riyadh: Vice Minister of Finance Abdulmuhsen bin Saad Alkhalaf today participated in an IMF panel discussion entitled "Regional Economic Development and Outlook," held in Riyadh. In his remarks, Vice Minister Alkhalaf noted that prevailing uncertainty underscores the importance of structural reforms across the region to enhance economic resilience and support recovery. He stated that the Kingdom has implemented numerous structural reforms and established a strong fiscal framework that enables it to absorb external shocks without compromising development plans or fiscal sustainability.
According to Saudi Press Agency, Vice Minister Alkhalaf emphasized that Saudi Arabia is pursuing a long-term strategy to transform its economy. These reforms have strengthened the Kingdom's economic resilience and broadened its range of policy options to address potential shocks. Alkhalaf added that the tightening of global financial conditions, increasing economic fragmentation, and continued volatility in commodity prices have placed fiscal policy at the forefront of shaping both global and regional economic responses.
He stressed that these conditions require governments to adopt a combination of fiscal prudence, agile policy responses, structural reforms, strategic sector investments, and private sector support. The event brought together senior policymakers from the MENA region to discuss economic policymaking and strategies for ensuring sustained economic growth and stability in resource-rich countries.