Global economic outlook bleak in 2023: Saudi investment minister

 Saudi Minister of Investment Engineer Khalid Al-Falih has said that the scenario of the international economy in 2023 is dim due to the increase in inflation and the decrease in purchasing power. Rising energy prices and climate change do not lead to speculation about trade policies.

According to the Saudi news agency SPA, Khalid al-Falih was speaking on the new economic situation in a discussion of the Future Investment Initiative Forum in Riyadh on Tuesday.

Answering the question regarding trade and supply chain, Khalid Al-Falih said that the situation will remain as it is in the context of globalization. Every country will invest its gross national product in various industries.

Khalid al-Falih was asked how the current governments will be able to succeed in the difficult situations they are facing and how they will be able to adapt themselves to the situation. "There are many challenges and losses are happening at a fast pace," he said. If we talk about the long term, it can be said in short that some kind of change will cause some difficulties and along with it some opportunities will also be found.

He said that he had a discussion with his Finnish counterpart regarding investment in energy, renewable energy and infrastructure projects. We believe that economic change is accompanied by high rates of inflation and many problems such as rising rates of profit. Under these conditions, the growth rate and income will be low. We have to focus on growth. Its speed will be slow, but there will be many profitable opportunities in terms of technology and investment in the modern world system.

The Saudi Minister of Investment said that the Saudi Vision 2030 is designed with reference to the future world. We will spend 10, 15 years in this environment. We have to look at what we are seeing today and how to plan for what will happen in the near future.