RIYADH: Saudi Arabia has shown growing resilience and flexibility in addressing global challenges, as highlighted in the latest economic review.
This was demonstrated in a virtual meeting of the Council of Economic and Development Affairs, which reviewed key reports, including a monthly update from the Ministry of Economy and Planning on August’s global and domestic economic performance.
The review acknowledged that recent developments reflect the country’s ongoing efforts to strengthen its financial base and diversify its economy, the Saudi Press Agency reported.
The country’s economic resilience is reflected in the ongoing decline in inflation rates, which fell to 1.5 percent in June, and an 8.2 percent annual increase in commodity exports in May, underscoring the impact of economic diversification efforts.
The meeting also included an analysis of global economic prospects and their implications for the national economy. Additionally, the council reviewed the Ministry of Finance’s second-quarter financial report, which detailed revenue, expenditure, and public debt indicators.
The report addressed improvements in service quality, social protection programs, infrastructure development, and progress in strategic projects aligned with Saudi Vision 2030.
The council also reviewed a report from the Project Management Office at the Secretariat of the Council of Economic and Development Affairs, which tracked the implementation of decisions and recommendations from the second quarter of 2024.
The presentation included a detailed account of the council’s outputs and achievement statistics.
The council also reviewed the annual report from the Digital Content Council on the 2023 performance of the Digital Content Program.
The report highlighted growth in digital content within the Kingdom, key accomplishments, and an overview of the program’s status, including completed and ongoing initiatives, challenges, and proposed solutions.
The council then made the necessary decisions and recommendations based on these reports.
