Finance Minister at Euromoney Conference: Despite world challenges, Saudi economy stronger than ever

Saudi Minister of Finance, Mohammed bin Abdullah Al-Jadaan said on Wednesday at the Euromoney Saudi Arabia 2022 conference that despite the challenges the world is experiencing, the Saudi economy came out stronger than before.
Al-Jadaan, explained at the Euromoney Saudi Arabia 2022 conference that the Kingdom continues to implement the vision programs, continue reforms and expand the economic base, as it has achieved successes in developing the financial market, expanding the investor base, securing the requirements for financing the Kingdom’s domestic debt and supporting the development of the secondary market.
He pointed out that the rate of homeownership in the Kingdom increased from 47% in 2016 to more than 60%, through the development of support mechanisms in partnership with the private sector.
Al-Jadaan also mentioned that the financial sustainability program contributed to controlling the deficit rates and strengthening the financial position to face shocks, in addition to introducing many structural reforms in the process of preparing the state’s general budget and controlling spending.