SAFAKNA TURKEY“We want to change the way we provide unconditional financial assistance to our allies,” said Mohammed al-Sedan, Saudi Arabia’s finance minister.
According to the Shafqna translation service, al-Sidan told the World Economic Forum in Davos: Saudi Arabia, the world’s largest oil exporter and an important Arab power, encourages the countries of the region to carry out economic reforms.
“We used to provide direct financial assistance and unconditional assistance, but now we want to change this path and are working with various multinational organizations to communicate to our allies that we need a reform-based perspective,” al-Jadan said.
Saudi Arabia’s finance minister said: “We have taxed our own people and we expect others to do the same.”
Saudi Arabia and other Gulf Arab countries such as the UAE and Qatar are increasingly turning to investing in countries in need rather than direct financial assistance.
Saudi Arabia’s official media had earlier announced that Riyadh planned to increase its investment in Pakistan to $10 billion and its deposits with the Central Bank of Pakistan to $5 billion.
Last June, Saudi Arabia signed $7.7 billion worth of contracts with Egypt, including $1.5 billion to build a power plant, and announced it was seeking $30 billion of investment in Egypt.
Saudi Arabia has also established companies in Egypt, Jordan, Bahrain, Sudan, Iraq and Oman and has invested $24 billion in these countries.
- What is SMA Screening – Last Minute Türkiye and World News
- President Erdogan: We have shown at the highest level that the Turkish states are a single entity – News Details
- “New rules for domestic electric vehicles”
- Stock market breaks records despite boss selling
- How much did the dollar and euro cost on the free market?
- The configuration is suitable for traffic police fines! – Last minute Turkey and world news
- Will SCT be removed on mobile phones and tablets?
- Romanian Andrea made her dream of wearing high heels come true in Turkey
- 3 formulas to speed up conversions
- The deputy of the thermal power plant divided the table!