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In a statement delivered to the 113th Meeting of the Development Committee, Saudi Finance Minister Mohammed Al-Jadaan detailed how the ongoing conflict in the Middle East has evolved into a broader systemic challenge for the world economy. The minister described far-reaching consequences that now encompass inflation, growth, employment, food security and development outcomes across nations. A World Bank document of the April 16, 2026, session shows Al-Jadaan framing these effects as having moved well beyond their initial regional boundaries.
International Monetary Fund projections place global public debt on course to surpass 100 per cent of gross domestic product by 2029, Al-Jadaan noted in related remarks to the Atlantic Council last October. The Saudi minister highlighted that roughly half the world’s population lives in countries where debt servicing outlays exceed spending on public utilities. This pattern, he said, represents a profound misallocation of resources with serious implications for global economic stability.
Emerging markets and developing economies now account for nearly 60 per cent of global gross domestic product in purchasing power terms while contributing 70 per cent of worldwide growth, according to Al-Jadaan speaking at the AlUla Conference for Emerging Market Economies on Feb. 8. The minister added that the top 10 emerging economies together with the G20 drive more than half of global expansion. Yet these same economies confront elevated debt, trade growth that has slowed to approximately half its pre-pandemic rate and greater exposure to geopolitical disruptions.
More than half of all low-income countries face debt distress or the risk of it, Al-Jadaan has repeatedly cautioned in international forums throughout the past year. Global capital flows remain volatile and sensitive to monetary policy shifts in major economies, according to assessments he cited during the Development Committee session. The minister stressed that these pressures compound the systemic risks originating from prolonged conflicts.
Al-Jadaan used the April 16 statement to call for stronger international cooperation, redefined growth strategies and bolstered global financial safety nets capable of preventing future crises. He has consistently argued that macroeconomic stability forms the foundation for sustainable expansion rather than an obstacle to it. In remarks at the World Bank and IMF annual meetings last October, the minister pointed to Saudi Arabia’s own experience under Vision 2030 as evidence that disciplined fiscal management can deliver above-average growth with restrained stimulus outlays.
The Development Committee gathering occurred against a backdrop of overlapping shocks that have tested institutional resilience worldwide, according to the World Bank summary of Al-Jadaan’s intervention. Geopolitical tensions continue to disrupt supply chains in sectors ranging from energy to critical industrial inputs, the minister observed in a subsequent address at FII PRIORITY Miami. Al-Jadaan advised investors to look beyond media narratives and focus on underlying economic fundamentals that still support stable activity in the Gulf region.
