Saudi Central Bank Chief on Middle East Tensions

The Governor of the Saudi Central Bank, "SAMA," Ayman Al-Sayari, warned of the repercussions of ongoing conflicts in the Middle East on the global economy, noting that such conflicts increase uncertainty and put additional pressure on energy and trade markets. He emphasized that the conflict intensifies economic challenges, with differing impacts across countries depending on their inflation levels, financing capacity, and confidence. He also cautioned about the potential decline of financial safety margins and weakened growth prospects in the medium term. Al-Sayari stressed the importance of maintaining price stability, considering local financial conditions, supporting households, and enhancing international cooperation to address economic challenges. He explained that the Saudi economy has demonstrated resilience despite the continuation of the conflict, supported by cautious policies and strong financial reserves, as the Vision 2030 reforms to diversify the economy and promote sustainable growth continue.

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