H.E. Saudi Vice Minister of Finance, Mr. Abdulmuhsen bin Saad Alkhalaf, participated in an International Monetary Fund (IMF) panel discussion titled “Global and Regional Economic Development and Outlook” on May 25, 2025, in Riyadh.
During the discussion, Vice Minister Alkhalaf emphasized the importance of structural reforms for regional countries to enhance economic resilience and support recovery amid uncertain conditions. He explained that Saudi Arabia has implemented numerous structural reforms and developed a robust fiscal framework to withstand external shocks without compromising development plans or fiscal sustainability.
Alkhalaf highlighted Saudi Arabia’s long-term strategy aimed at transforming its economy. He noted that these reforms have strengthened the resilience of the Saudi economy and provided a range of policy options to address potential shocks.
He further mentioned that global financial tightening, economic fragmentation, and commodity price volatility have made fiscal policy crucial in shaping both global and regional economic responses.
Vice Minister Alkhalaf stated that governments need a combination of fiscal prudence, agile response strategies, structural reforms, investments in strategic sectors, and private sector support to navigate these challenges effectively.
The event gathered senior policymakers from the Middle East and North Africa (MENA) region to discuss economic policymaking and management strategies for ensuring sustained growth and stability in resource-rich countries.
