During his participation in the “Future Investment Initiative” conference held in Riyadh, the minister stressed that the Kingdom’s goal goes beyond merely creating more jobs, but focuses on providing value-added job opportunities that contribute to enhancing the income of Saudi families and raising their standard of living.
The Saudi Minister of Economy pointed out that the contribution of non-oil sectors to the gross domestic product has reached 56%, while emphasizing that this achievement is not the end, as ambitions go far beyond that, as the Kingdom aims to raise this percentage to 69% during the next five years.
Al-Ibrahim added: “We must realize that the Kingdom of Saudi Arabia is undergoing a long-term restructuring journey,” explaining that future growth will not be achieved by reducing spending, but by rationalizing it and directing it towards the most productive areas.
It is worth mentioning that the International Monetary Fund had earlier this month raised its expectations for the growth of the Saudi economy to 4% for 2025, an increase of 0.4% from previous estimates, while noting the continued recovery of the Saudi economy.
It is worth noting that the capital, Riyadh, is hosting the ninth edition of the “Future Investment Initiative” conference from October 27 to 30 under the slogan “The Key to Prosperity”, with the wide participation of heads of state, senior executives, global investors, and experts in the fields of economy, energy, and technology.
