Structural Reform Helps Nations to Finance Current Spending Levels -Al-Jadaan Reasserts

Several structural reform undertaken by a host of nations, would not only help them, in financing the current spending levels, but also to face upcoming crises, Finance Minister Muhammad Al-Jadaan commented, calling on governments to deter risks and manage crises, facing the world, entirely.

This came during his participation as a keynote speaker, in the virtual (preparing for the future) session, within the activities of the World Economic Forum (Davos) event, remotely launched on January 17 and set to conclude on January 21.

The current edition of Davos has a fundamentally significant demonstration, as the first global gathering to be held, in 2022, under the slogan “The State of the World.”

An array of elite group, comprising decision-makers, thinkers, government officials and scientists participated, in a quest for drawing up the most critical global challenges, and identifying common visions and courses of action to focus on collectively tackling them, during the year.

“G20 have provided rapid support to low-income countries, and we were able to quickly develop vaccines to confront the pandemic, compared to previous health crises, that took up to 10-year, to develop vaccines to contain the outbreak, Al-Jadaan pointed out.”

“The pandemic, in general, and its mutating variants, in particular, showed that none would not be safe, unless everyone is proven to be likewise,” he underscored.

“G20 constitutes 80 percent of the world GDP, and it is working, in collaboration, with the World Bank and the International Monetary Fund to develop concerted policies and follow them up, to confront risks facing the world and to ensure financial stability,” he elaborated.

The World Economic Forum “Davos” had announced the postponement of the annual meeting of the world leaders, billionaires, and CEOs, which was scheduled to be held, in the Swiss mountain resort of Davos.

Instead, the forum announced, in a statement, that it is embarking on conducting a major series of “State of the World” sessions, that would bring together world leaders, from the online, to focus on shaping solutions to the world’s most pressing challenges.