Al -Badawi: The economies of the Gulf states have proven their ability to absorb global shocks
Kuwait on October 2 / WAM / His Excellency Jassim Muhammad Al -Badawi, Secretary -General of the Cooperation Council for the Arab States of the Gulf, stressed that the economies of the GCC countries showed a high ability to absorb the shocks that were affected by the global economy despite the global challenges, noting that the strong non -oil activity, supported by the momentum of local reforms and demand, contributed to supporting this growth.
This came during the joint meeting between the Excellencies of the Finance Ministers and the Governors of the Central Banks in the Cooperation Council states and the General Manager of the International Monetary Fund, which was held in Kuwait today, headed by His Excellency Dr. Subaih Abdulaziz Al -Makhizim, Minister of Electricity, Water and Renewable Energy, Minister of Finance and Minister of State for Economic Affairs and Investment of the Agency – President of the current session – and the participation of the Director General of the International Monetary Fund Crystalina Gorgieva.
His Excellency explained that the expectations of economic prospects remain positive, with the continued reforms, the expansion of natural gas production, the decline in dependence on oil, in addition to controlling inflation rates.
He pointed out that the GCC states continue with all the effectiveness of strengthening their monetary and financial policies and moving forward in structural reforms, from improving the business environment and benefiting from digitization and artificial intelligence.
Al -Badawi concluded his speech by emphasizing that facing global challenges requires a clear vision and close cooperation, stressing that the GCC countries will continue to enhance their ability to withstand and seize opportunities to achieve more prosperity.
– Khal –
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