Al-Badawi: Gulf States Have Proven Their Ability to Handle Crises - Sarmad
Al-Badawi affirmed the GCC's efficiency in managing crises during a financial meeting in Manama.
Translated by Qiyas from سرمد — Original source
The Secretary-General of the Gulf Cooperation Council (GCC), Jassem Al-Bedawi, confirmed on Thursday that GCC member states have demonstrated their ability to handle various crises and exceptional circumstances with efficiency and competence, while maintaining the robustness of their economies.
This statement was made by Al-Bedawi during his speech at the 126th meeting of the GCC Financial and Economic Cooperation Committee, held in Manama under the chairmanship of Bahrain’s Minister of Finance and National Economy, Sheikh Salman bin Khalifa Al Khalifa, and attended by the ministers responsible for financial and economic affairs in GCC member states.
He stated that Gulf countries continued to work on enhancing financial sustainability and efficiency, developing financial risk management tools, improving public expenditure efficiency, and diversifying revenue sources, thereby strengthening their capacity to preserve their economic gains and provide the necessary flexibility to address future changes.
He noted that the meeting takes place at a critical juncture, amid rapid geopolitical developments in the region, accompanied by market volatility, challenges in trade and investment flows, disruptions in supply chains, and growing uncertainty regarding global economic prospects.
He clarified that, given the close ties between GCC economies and the global economy, these developments underscore the importance of continuing to enhance preparedness and the ability to address various challenges, while mitigating their impact on GCC economies to preserve financial and economic stability and ensure sustainable growth.
