Saudi Council of Economic and Development Affairs holds meeting via video conference

RIYADH: Saudi Arabia’s Council of Economic and Development Affairs held a meeting via video conference. 

During the meeting, the council reviewed several items on its agenda, including the periodic report from the Ministry of Economy and Planning, according to the Saudi Press Agency.

This report provided an analytical overview of the global economic landscape and its growth prospects amid regional geopolitical tensions.

It also examined the impact of these developments on the national economy, highlighting its resilience in responding to changing conditions, supported by strong financial fundamentals, and the readiness of the logistics sector to manage crises, as well as the effectiveness of proactive government plans in safeguarding food security, and the continued flow of goods through alternative routes.

The report emphasized that the developments in the region will not halt the progress of major development projects in the Kingdom.

The council also reviewed a report on the latest developments related to various economic and financial indicators.

These indicators confirmed the high resilience of the national economy, evidenced by the 3 percent gross domestic product growth during the first quarter of this year.

This growth was driven by expansion in both oil and non-oil sectors, as well as government activities, alongside a decline in the annual inflation rate, a rise in the non-oil private sector index, and an improved trade balance.

The meeting also saw the council review the annual report submitted by the Digital Content Council for the fiscal year 2025, which included an executive summary of the digital content sector in the Kingdom, the council’s objectives, and the sector’s status in terms of its direct contribution to GDP, revenues, and market size.

The report also addressed the key achievements of the Digital Content Program, which enhances the sector’s development and maximizes its economic impact. It highlighted the qualitative developments the sector has witnessed, reinforcing its position as a key driver of digital transformation and economic growth, in line with the objectives of Vision 2030.

During the meeting, the council considered several procedural matters, including the draft guide to government agency models and the draft national policy for promoting emergency medical services in public places and workplaces.

The council was also briefed on the progress report of the Committee for Improving the Balance of Payments and Economic Diversification, the quarterly report on the work of the Standing Committee for Price Monitoring, and a summary of the quarterly report on the Real Estate Price Index, as well as the monthly executive summary on foreign trade, summaries of the monthly reports on the Consumer Price Index and the Wholesale Price Index, and the underlying reports upon which these summaries were based.

The council made the necessary decisions and recommendations regarding those issues.