Finance Minister Calls for Harnessing Innovation to Tackle Global Economic Challenges

TDT | Manama

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His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, emphasized that many countries around the world are grappling with structural economic challenges that hinder development opportunities. He noted that the demand for youth employment continues to grow while women’s participation in the workforce remains relatively low.

Shaikh Salman further warned that persistent educational poverty threatens to create a generation deprived of essential skills and opportunities, adding that these issues have been exacerbated by ongoing geopolitical tensions and instability in several regions.
His remarks came during his address before the Development Committee on behalf of the Arab Group and the Maldives — represented by the Kingdom of Bahrain — at the 112th meeting of the World Bank’s Development Committee, held in Washington as part of the joint annual meetings of the International Monetary Fund (IMF) and the World Bank Group. The session gathered ministers and senior officials from international institutions to discuss pressing global economic issues.

The Minister expressed Bahrain’s appreciation for the role of the United States, under the leadership of President Donald Trump, in promoting peace and commended the efforts of both the U.S. and Egypt in the success of the Sharm El-Sheikh Peace Summit. He highlighted that the progress made toward ending the war in Gaza marks an important step toward consolidating regional security and stability.

Shaikh Salman underscored that decent work and dignified living are the foundation of human dignity, describing employment as the key to achieving social stability. He praised the World Bank Group’s renewed focus on job creation as a central element of its policy framework.

Moreover, the Minister pointed out that modern technologies offer vast opportunities if utilized wisely but cautioned that failing to integrate them into public policy could marginalize large segments of the population. He called for leveraging innovation to advance human and economic development rather than allowing it to deepen existing inequalities.