His Excellency Dr. Hamad bin Sulaiman Al-Bazai the Vice Finance Minister inaugurated the second meeting of G20 Strong, Sustainable and Balanced Growth Framework which was hosted by the Ministry of Finance with the participation of the Saudi Arabian Monetary Agency, in collaboration with the German Finance Ministry in Riyadh on 13-14 February, 2017 AD.

At the opening of the meeting, the Vice Minister of Finance pointed out that the global economy still faces the risk which limits its sustainable and balanced growth, calling for  new economic policies that should be adapted and supported by structural reforms. His Excellency stresses the importance of increasing the flexibility of the economies in the G-20 so as to cope with future crises and adapt to them, Exploring the experience of the Kingdom in maintaining economic growth despite the bad conditions of the sharp decline in oil prices, His Excellency stresses the importance that G-20 should continue its efforts in promoting economic growth in the medium term, referring to the  Kingdom's vision 2030 and its targets of diversifying of economic and comprehensive reforms, which are consistent with the G-20 efforts to pursuit strong sustainable and balanced growth in the G-20 countries.

It is worth mentioning that this meeting comes within the scope of the  active role of the Kingdom in the G-20, where the work group frame is one of the main working groups within the financial track, and holds the  responsibility of  submitting its economic policy, particularly fiscal and monetary, for Finance Ministers and Central Bank Governors to implement the group's commitment for cooperation and to achieve strong sustainable and balanced global growth, through the mutual assessment between the countries of G-20, on policies which have been performed by the G-20 to achieve the agreed targets with the support of international organizations such as the International Monetary Fund,  the World Bank and the Organization for Economic Cooperation and Development (OECD). The work of the working group is usually guided by Deputy Ministers of Finance ,Ministers  of Finance and Central Bank Governors.