Saudi Arabia reiterated that it remains committed to support the G20's efforts to achieve strong, sustainable, balanced and inclusive economic growth in the 1st G20 Finance Ministers and Central Bank Governors' (FMCBG) Meeting under the Indonesian Presidency. Minister of Finance Mohammed Al-Jadaan and the Saudi Central Bank (SAMA) Governor Dr. Fahad Almubarak participated in the virtual meeting that was held on Feb. 17-18, 2022, along with other G20 finance ministers and central bank governors, a number of delegates from invited countries and heads of international and regional organizations. The meeting fostered discussions on global economic prospects, and joint action was coordinated towards achieving robust, sustainable and inclusive growth in line with the Indonesian Presidency agenda under their theme: "Recover Together, Recover Stronger", which reflects the spirit of collective recovery with the world. In its capacity as a G20 member, the Kingdom participated in drafting the final Communiqué prior to the FMCBG meeting with member states. As a lead discussant of the Infrastructure Investment Session, Al-Jadaan highlighted that the investors' dialogue established under the Saudi G20 Presidency and continued by the Italian G20 Presidency helps identify sustainable solutions. He stated that Sustainable Infrastructure and Infrastructure Technology are topics of importance and relevance to climate change and adaptation. Therefore, we need to ensure we can meet investors' expectations and fully realize the synergies between public and private stakeholders to promote sustainable investment. On the Global Economy and Health Session, Al-Jadaan emphasized that it is imperative to take account of the medium and long-term consequences of the pandemic on fiscal sustainability and financial stability. He also flagged the importance of considering the key factors behind rising commodity and food prices globally, including the supply chain disruptions, the increase of shipping costs and the unintended consequences of policy actions taken in the context of climate change On the sidelines of the meetings, the Ministry of Finance Delegation held bilateral meetings with a number of G20 member states headed by the Assistant Minister for Macro-Fiscal Policies and International Relations Abdulaziz Al-Rasheed to discuss the most pressing global economic issues and topics of common interest. Indonesia assumed the presidency of the G20 on Dec. 01, 2021 after the conclusion of the Leaders Summit in Rome. The priorities of the Indonesian Presidency include five pillars: Enabling environment and partnership, Promoting productivity, Ensuring sustainable and inclusive growth, Increasing resilience and stability, and stronger collective global leadership. — SG
