Global Tensions Impact Economy More Than Pandemic, Says Saudi Finance Minister

Mohammed Al-Jadaan has stated that the impact of recent global tensions could surpass that of the COVID-19, posing a serious threat to the global economy.

Speaking at the Future Investment Summit in Miami, he highlighted the growing uncertainty affecting economic stability worldwide

He noted that global supply chains have been significantly disrupted, causing delays and inefficiencies in production and trade.

According to him, ongoing conflicts have heavily impacted key sectors including oil, gas, and fertilizers, leading to market volatility.

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He warned that these disruptions could contribute to rising inflation and slower economic growth, especially in developing countries.

Despite global challenges, he emphasized that Saudi Arabia remains an attractive destination for investors due to its resilient economy.

Al-Jadaan concluded by stressing the importance of international cooperation to effectively address and overcome the current economic challenges.