Saudi Finance Minister: Investment grew 19% in first 9 months ‎of 2022‎

Mohammed Al-Jadaan, Minister of Finance, revealed that investment in the Kingdom grew by 19% in the first 9 months of 2022, stressing that the ministry will seize any opportunity to refinance any amounts due in the future.

He explained during an exclusive interview with “Al Arabiya” on the sidelines of the Future Investment Initiative that during the first quarter of 2023, we will study how to distribute the surpluses for the current year, indicating that the Saudi banking sector is very strong and there are never challenges to liquidity in the sector.

On the relationship between the Kingdom and America, Al-Jadaan said: “Our relationship with the United States is strategic and extends for decades.” Al-Jadaan continued: “We should not be blamed for protecting the interests of the kingdom and its people.”

Al-Jadaan said that the war in Ukraine changed some of the previously established spending plans, noting that the Kingdom worked with the International Monetary Fund to provide support to countries in need.

He added that the world is going through difficult economic challenges in light of inflation, indicating that the Gulf countries are going through an economic boom after years of successful programs, supported by previous plans.

Al-Jadaan explained that the world realized the reality of changes and development in the Kingdom, revealing that the participating delegations witnessed the extent of the economic transformation that the Kingdom is witnessing.