Bangkok:Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi emphasized the resilience of GCC economies against global economic shocks and geopolitical changes, attributing this strength to solid economic fundamentals, substantial financial reserves, robust banking sectors, and prudent fiscal management.

According to Saudi Press Agency, Albudaiwi made these remarks during a meeting with finance ministers and central bank governors from the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, alongside International Monetary Fund (IMF) Managing Director Kristalina Georgieva. The meeting took place on the sidelines of the 2026 IMF and World Bank Group Annual Meetings in Bangkok.

Albudaiwi noted that recent geopolitical developments have affected global energy production, maritime shipping, and trade flows, highlighting the crucial link between Gulf stability and global economic security. He pointed out that disruptions in key energy corridors and trade routes have significant impacts on international markets.

He further stated that GCC economies are well-positioned to sustain recovery and growth through 2027 and beyond, driven by strategic investments and efforts to diversify beyond oil. Albudaiwi emphasized the need to balance immediate economic responses with long-term fiscal sustainability, ensuring sufficient buffers to handle future market volatility.

Highlighting sectors for future growth, he mentioned advanced industries, digital infrastructure, artificial intelligence, and human capital development. He also stressed the importance of empowering the private sector to enhance its role in global value chains.

In his conclusion, Albudaiwi stressed that achieving long-term resilience requires advancing Gulf economic integration, upgrading logistical corridors, and diversifying international partnerships to convert global challenges into sustainable economic opportunities.