Dr. Mahmoud Mohieldin, Special Envoy of the United Nations Secretary-General for Financing the Sustainable Development Goals, Executive Director of the International Monetary Fund, and President of the Global Sustainability Council, confirmed that the World Government Summit has become on the map of the most important annual events in the world..
Mohieldin said, in statements to the Emirates News Agency, WAM, on the sidelines of the activities of the World Government Summit 2024, that the World Government Summit, since its launch 11 years ago, has witnessed rapid growth and remarkable development amidst an exceptional and distinguished organization and diversity in the topics and sectors presented, in addition to providing practical solutions and not… It is only limited to monitoring and analysis, in addition to transferring various experiences between countries and civil society institutions.
He added that the World Government Summit is a pioneer in paying attention to topics and issues related to the capabilities of development work, including finance, information technology, artificial intelligence, and areas related to stimulation, whether companies or the family sector, while continuing this approach over the past years..
Mohieldin pointed out yesterday’s participation in the Public Finance Forum in the Arab Countries, which is organized by the Arab Monetary Fund in cooperation with the International Monetary Fund and in partnership with the Ministry of Finance in the UAE, noting that holding the eighth edition of this forum is one of the main advantages of the World Government Summit, which is witnessing the continuation of its activities. different.
Regarding expectations for the global economy, he said that there are signs of economic recovery with growth rates lower than the required averages, as the global average expected growth is in the range of 3 to 3.1.%.
He pointed out that Arab economies were expected to grow in the range of 3.2% to 3.5%, but due to geopolitical tensions in the world, forecast rates fell by half a percentage point, bringing the expected growth rate to between 2.8% and 2.9%.% .
Mohieldin added: “Arab countries need growth numbers double this number so that they can meet the needs of young people for jobs and employment opportunities, in addition to investing in education, health care, developing technological policies, and strengthening economies against various shocks, especially those related to the climate and its negative effects.”
The Special Envoy of the United Nations Secretary-General for financing the Sustainable Development Goals said that inflation rates at the global level are currently in a better position after ranging from 7 to 9 percent in the past three years, and he expected the rates this year to approach 3.5 to 4 percent.%.
Mahmoud Mohieddin indicated that interest rates in the United States of America will range during the coming period between stabilization and reduction and will not return to their rates to what they were before the “Covid-19” pandemic, provided that there are no greater price problems..
He stressed the importance of having greater coordination between public financial policies and monetary policies in order to enhance investment opportunities and pay them better, pointing out the necessity of working to improve the investment climate in Arab countries and providing more investment opportunities so that this investment is export-oriented..
Mohieldin pointed to the exceptional success of the Conference of the Parties “COP28” Which was held in the UAE last year, indicating that we are working closely at the present time to prepare for the Conference of the Parties “COP29” Which will be held this year in Azerbaijan and the Conference of the Parties “COP30” Which will be held next year in Brazil.
Mohieldin stressed the importance of finance, technology, and developing regulatory and supervisory systems in directing investment and consumption behavior in climate action, for companies or individuals, calling for the need to focus on the means of achieving these goals so that there is a change for the better..
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