Saudi Gazette report

RIYADH — The Saudi Council of Economic and Development Affairs (CEDA) highlighted the advancement in implementing major projects and programs under Saudi Vision 2030. A meeting of the council, held via video conference on Saturday, noted this while reviewing the results of the third-quarter report of the Ministry of Finance on the performance of the state budget for the fiscal year 2024.

The report reaffirmed the Kingdom's continued support for development projects, strengthening social care and protection systems, saying that this underscores the effectiveness of structural economic reforms, efforts in economic diversification, and the systematic approach aligned with the Vision 2030. The report includes a detailed overview of financial performance up to the end of the third quarter, covering revenue, expenditure, and public debt indicators.

At the outset of the meeting, the council reviewed the quarterly economic report of the Ministry of Economy and Planning, which includes an analysis of key global economic developments, and the national economic progress. The Kingdom saw positive economic growth of 2.8 percent in the third quarter.

The report addressed future national economic forecasts issued by relevant government entities, international funds, and agencies, as well as proposed insights and recommendations to address global economic challenges.

The council also reviewed a presentation made by the Ministry of Commerce regarding the report of the Standing Committee for Price Monitoring for the third quarter of 2024. The report addressed the roles of the entities participating in the committee, key insights during the specified period, global price trends, an overview of consumption patterns, price and inflation indicators in the Kingdom, and details regarding consumer goods prices in the third quarter.

The report also outlined the measures taken to ensure the availability of goods and strengthen stockpiles to maintain price stability. The council made the necessary decisions and recommendations regarding the topics of the agenda