Saudi Arabia Confirms Flexibility of its Economic Policies in Face of Global Challenges
The council indicated the ability to build a diverse and stable economic base, with inflation rates continuing to decline, reaching 1.5% in June. Additionally, goods exports increased by 8.2% year-on-year in May due to economic diversification efforts, according to “SPA”.
The Council reviewed the Ministry of Finance’s presentation on the state’s general budget performance for the second quarter of 2024. Moreover, this included a detailed overview of financial performance, covering revenue, expenditure, public debt, and progress in improving services for citizens and residents.
In addition to this, the Council supports social protection programs, infrastructure development, and strategic programs and projects that support economic diversification to achieve the goals of the Kingdom’s Vision 2030.
The Council followed up on the presentation submitted by the Project Management Office of the Secretariat of the Council of Economic and Development Affairs regarding following up on the decisions and recommendations issued by the Council during the second quarter of 2024. It also contained a breakdown of the Council’s outputs and detailed statistics on the level of achievement.
The council reviewed the Digital Content Council’s 2023 annual report on the Digital Content Program. The report highlighted growth in digital content, key accomplishments, program status, completed and ongoing initiatives, challenges, and proposed solutions.
Finally, the council made the necessary decisions and recommendations regarding these matters.
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