Riyadh: Mohammed Al-Jadaan has issued a stark warning, saying the economic impact of recent global tensions could exceed the damage caused by the Covid pandemic.
Speaking at the Future Investment Initiative Summit in Miami, he said the developments of recent weeks have introduced serious risks to the global economy. He noted that the scale and speed of disruption are already visible.
In particular, he highlighted that global supply chains are under intense pressure. As a result, businesses across multiple regions are experiencing delays and rising costs. Consequently, economic uncertainty is increasing at a rapid pace.
Moreover, he pointed out that the conflict is directly affecting key global markets. Oil, gas, fertilizers, and other essential sectors are already showing signs of instability. This, in turn, is contributing to price volatility and investor concern.
At the same time, he warned that these disruptions may have long-term consequences. Economies dependent on imports could face inflationary pressure. Meanwhile, industries reliant on energy inputs may struggle to sustain operations.
However, despite the global uncertainty, he maintained a confident outlook for Saudi Arabia. He emphasized that the Kingdom remains a strong and attractive destination for investment.
He added that Saudi Arabia continues to focus on economic diversification and resilience. Therefore, it aims to position itself as a stable partner for global investors during uncertain times.
Analysts say the remarks reflect a broader concern among policymakers. While the Covid crisis disrupted economies worldwide, current geopolitical tensions could trigger deeper and more prolonged economic effects.
In simple terms, the warning signals a shifting global landscape. And if tensions continue, the economic fallout could reshape markets far beyond previous crises.
