The Council of Economic and Development Affairs convened via video conference to discuss several agenda items, notably a quarterly presentation from the Ministry of Economy and Planning.
The presentation analyzed the global economy and financial markets, as well as key indicators for the national economy. It highlighted a 4.9% year-on-year recovery in the non-oil economy for the second quarter (Q2) of 2024, and stable inflation rates at 1.5% in July. The presentation emphasized the national economy’s strength and the effectiveness of policies addressing global economic shifts. It also outlined future economic expectations, drawing on reports from international and local organizations.
The council further reviewed a presentation from its Strategic Management Office, focusing on the Q1 2024 report on programs supporting Saudi Vision 2030. The report detailed key achievements, strategic objectives, and a comprehensive performance assessment of these programs. It noted significant progress across all three pillars of the Vision: a vibrant society, a thriving economy, and an ambitious nation.
Additional topics on the agenda included the 2023 annual report of the Public Investment Fund (PIF), the 2023 annual traffic safety report, the seventh semi-annual report of the Ministerial Committee for the Social Support and Subsidies System, and the Q2 2024 report on the results of the Standing Committee for Price Monitoring.
The council concluded its meeting by making decisions and recommendations related to these matters.
Source: spa.gov.sa