Minister of Finance Mohammed Al-Jadaan has stated that Saudi Arabian economy is capable of absorbing the shocks that occur due to global crises. Al-Jadaan’s made the remarks during an interview with Al Sharq News Channel on the sidelines of the World Economic Forum in Davos, where he also indicated that the future perspective of the Kingdom’s economy is very positive. Saudi Arabia witnessed positive growth in Q1, which at more than 9 percent is a record for the last 10 years, Al-Jadaan said, adding that he expects the growth to continue in the medium term in coming years to be around 6% for non-oil GDP. Al-Jadaan said that growth and investment opportunities in Saudi Arabia are excellent, and will create many jobs for male and female citizens, noting that the Kingdom will be able to attract more investment. About the global recession, he does not expect a comprehensive recession or stagnation in the Kingdom. Rather, he expects stagnation in some areas in different cities. Growth in Saudi Arabia continues very well, as the Kingdom has the ability to face challenges such as what we saw previously through the rational leadership of the Kingdom’s government during crises such as the Covid-19 and low oil, he said. "There are still external shocks that we must be wary of, as the Kingdom is also part of the world, such as price hikes, even though the price crisis elsewhere is greater than what Saudi Arabia is witnessing," Al-Jadaan noted. With the decisions of Crown Prince Mohammed bin Salman, the Kingdom has been able to keep energy prices within the range of $70 inside Saudi Arabia, Al-Jadaan said, noting that this limits the price hike in the national economy, “but we must be more careful”. Al-Jadaan said through Vision 2030 and what has been experienced over the past 5 years, Saudi Arabia has greatly mitigated, including in the food sector, as many countries have suffered because of their dependence on Russia and Ukraine for imports. "Saudi Arabia anticipated the import crisis from Russia and Ukraine about 4 to 5 years ago and it took important measures in its food strategy", Al-Jadaan said. He indicated that the strategy taken by the Kingdom is that it has reduced exposure to Russia and Ukraine and diversified its import sources. Saudi Arabia has also raised its local production, which has put the Kingdom in a much better position than others, Al-Jadaan said.