Saudi Arabia’s economy has emerged as a model of resilience and crisis readiness, Central Bank Governor Ayman Alsayari said, citing steady progress under the Kingdom’s Vision 2030 reform agenda.
He stressed that continued implementation of the plan has helped protect the economy from regional shocks, underpinned by solid growth, contained inflation and prudent monetary and fiscal policies.
This strength, he noted, reflects decades of structural reforms and strategic investment in infrastructure and institutions, equipping the Kingdom with the capacity and flexibility to absorb shocks while sustaining investor and consumer confidence.
Addressing the International Monetary and Financial Committee of the International Monetary Fund, chaired by Saudi Finance Minister Mohammed Al-Jadaan, Alsayari highlighted the importance of Saudi Arabia’s diversified energy and trade infrastructure in maintaining supply flows under pressure.
He pointed to long-term investments such as the East-West pipeline, which runs to Red Sea ports in Yanbu, describing it as a vital artery for both Saudi exports and global energy supplies.
The ability to reroute exports and secure access to Red Sea ports and strategic facilities, he said, underscores the importance of long-term planning in preventing supply disruptions.
It also reinforces the need to treat energy security as integral to global financial stability, while avoiding policies that sideline the role of fossil fuels in sustaining trade and growth.
Alsayari warned that the war in the Middle East poses a serious test for the global economy and could revive conditions reminiscent of the stagflation era of the 1970s.
He welcomed progress on the “Diriyah Guiding Principles,” describing them as a milestone in efforts to reform IMF governance after nearly two decades of stagnation. The principles, reflecting the Diriyah Declaration, combine realism and ambition and provide a basis for strengthening the fund’s representation of the global economy.
Alsayari said that the step is essential to enabling the IMF to carry out its core functions in surveillance and lending, while keeping pace with technological shifts such as artificial intelligence and digital assets, and safeguarding the international monetary system against geopolitical risks and stagflation.
Saudi Arabia is translating its economic gains into tangible international support, including a $279 million pledge for IMF capacity development and the opening of a regional office in Riyadh to strengthen cooperation with countries in the region and beyond, Alsayari added.
He also cited platforms such as the AlUla Conference on Emerging Market Economies as tools to share expertise and advance reforms that support resilience and long-term growth.
