Saudi Arabia & the World Economic Forum discuss prospects for cooperation

The Saudi Minister of State for Foreign Affairs Adel Al-Jubeir discussed with Burg Brende, President of the World Economic Forum, in Riyadh  (Tuesday), prospects for joint cooperation between the two sides.


Al-Jubeir and Brende reviewed the most important developments related to economic aspects and discussed regional and international issues of common interest.


The Global Risks Report for 2023 issued by the World Economic Forum indicated that with the beginning of the year 2030, the world will face a set of risks.


These risks seem new, unfamiliar, and frighteningly troubling, shaped by inflation, the rising cost of living, trade wars, and geopolitical turmoil.


It coincides with unsustainable levels of debt, low growth, low investment rates, declining globalization, and other interrelated risks between a year ago and a new year.


Governments will face inflationary pressures over the next two years, as well as the continuation of the Ukraine crisis, epidemic bottlenecks, supply chain disruptions, economic wars, risks of miscalculation between fiscal and monetary policies, low liquidity, and erosion of the gains achieved by middle-income families.


The report also highlights the importance of early treatment and integration between global efforts to reduce these risks while working to support factors of confidence and flexibility.


Investing in resilience should also focus on solutions that address multiple risks, such as financing adaptation measures to mitigate climate change or investing in areas that enhance human capital, development, and job creation.

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