RIYADH: According to Saudi Arabia’s finance minister, the global economy is most at risk from geopolitical risks like the conflicts in Gaza and Ukraine.
During the two-day special World Economic Forum meeting in Riyadh, Mohammed Al-Jadaan cautioned during a panel discussion that the ripple effects of violence are “directly impacting economies.” If you look at the global economy, geopolitical threats regrettably, are growing rather than decreasing—may be the biggest risk today,” he stated. Other factors brought about by geopolitical tensions have an immediate effect on economies.
Economic emotion is “put under a lot of pressure” by the conflicts in Gaza, Ukraine, and other places, he continued, saying that sentiments impact economies.The conflict in Gaza, which began following the Hamas-led assault on southern Israel on Oct. 7 last year, has resulted in the deaths of almost 35,000 Palestinians, mostly women and children.
“It is deplorable to see loss of life,” stated Al-Jadaan. The lives of civilians matter, whether they are in Palestine or the Ukraine. Courageous nations and leaders must win; you must ensure that the situation deescalates. He called the policy a “specific objective” of Saudi Arabia that the Kingdom has made major efforts in recent years to de-escalate tensions in the Middle East.
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