On behalf of His Excellency the Saudi Minister of Finance, Mr. Mohammed Aljadaan, the Saudi Deputy Minister of Finance for International Relations, Mr. Khalid Bawazier, headed the Kingdom's delegation participating in the 15th annual meeting of the Council of Arab Finance Ministers, which was held May 22, 2024, in the Egyptian capital Cairo. The meeting was attended by their Excellencies Ministers of Finance from Arab nations, as well as experts from the International Monetary Fund (IMF), the World Bank Group (WBG), and the Organization for Economic Co-operation and Development (OECD).

During the meeting, Mr. Bawazier showcased the Kingdom's efforts in a number of areas, including the successful Saudi experience in adopting many proactive measures that contributed to minimizing the impact of economic shocks during the past few years. These measures included the Kingdom's economic structural reforms and sustainable fiscal policies such as the development of non-oil revenues, with the goal of shifting the calculation of oil revenues to structural revenues, which are not subject to oil price fluctuations.

The meeting, which comes as part of the Joint Annual Meetings of Arab Financial Institutions, was convened to discuss the most important economic and financial developments among Arab nations, including the most prominent programs and solutions to international financial risks in light of slowing growth rates and the high cost of financing, in addition to exchanging expertise between member states in the financial and economic fields.

Mr. Bawazier also participated in the joint workshop between the Arab Monetary Fund (AMF), the Arab Fund for Economic and Social Development (AFESD), the WBG, and the IMF, entitled "Improving the response and capabilities to address major shocks and promote growth, and the role of economic and macroprudential policies".
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