The Economic Development Council held its meeting via video conference.
At the beginning of the meeting, the Board reviewed the quarterly report submitted by the Ministry of Economic Planning, which covered global economic trends and the impact of geopolitical challenges and global market fluctuations on global growth prospects. The report also highlighted the latest developments and future projections related to the national economy until 2027, highlighting the high flexibility it enjoys in facing global challenges and the impressive growth indicated by various statistics and economic indicators that solidify Saudi Arabia’s position among the fastest growing and most stable economies in the world.
The council reviewed the State General Budget Performance Report for the fourth quarter of fiscal year 2025 submitted by the Department of the Treasury. The report included a comprehensive presentation of financial performance over the same period, including revenue and expenditure trends, public debt levels, and an analysis of regional and global economic variables and their impact on financial indicators.
The report’s findings point to the continued adoption of a balanced and flexible monetary policy that supports economic growth and enhances fiscal sustainability in the medium to long term, through the adoption of disciplined and efficient financial tools and continued counter-cyclical spending, while directing policy towards development programs and projects with economic and social impact that contribute to improving the quality of public services, stimulating investment and strengthening fiscal strength.
The council discussed a number of procedural transactions, including clarification on what has been done with respect to the draft government competition and procurement regime, space systems projects, system updates needed for the governance of public and private universities and health colleges, periodic oversight and follow-up, and assignment of the University Affairs Council to update compliance processes for public and private universities and health universities based on quality standards approved by the University Affairs Council.
The council was also presented with the results of the real estate price index quarterly report, a summary of the two monthly reports for the consumer price index and the wholesale price index, and the basic report on which the summary was based.
The Council made the necessary decisions and recommendations regarding these issues.
The Council on Economic Development Affairs held its meeting via video conference.
At the beginning of the meeting, the Board considered the quarterly report submitted by the Ministry of Economic Planning. The report includes the latest information on the global economy and the impact of geopolitical challenges and global market fluctuations on global growth prospects. The report also highlighted the latest developments and future projections for the national economy until 2027, highlighting the Kingdom’s resilience in the face of global challenges and the significant growth that various statistics and economic indicators indicate, solidifying the Kingdom’s position as the world’s fastest-growing and most stable economy.
The council considered the Department of the Treasury’s report on state general budget performance for the fourth quarter of fiscal year 2025. The report included a comprehensive presentation of financial performance during the period, including revenue and expenditure trends, public debt levels, analysis of regional and global economic variables and their reflection in financial indicators.
The report’s results demonstrated the continued adoption of balanced and flexible fiscal policies that support economic growth and enhance fiscal sustainability in the medium to long term, through the use of financial tools characterized by discipline and efficiency and the continuation of counter-cyclical spending towards development programs and projects with economic and social impact that contribute to improving the quality of public services, stimulating investment and strengthening fiscal health.
The council discussed a number of procedural transactions, including an update on the draft competition and government procurement system, the draft space system, the University Affairs Council’s mandate to update regulations necessary for the governance, oversight, and regular monitoring of public and private health universities and colleges, and updates to the compliance process for public and private health universities and colleges based on quality standards approved by the University Affairs Council.
The results of the quarterly report on the real estate price index, the summary of the monthly report on the consumer price index and the wholesale price index, and the main reports on which they were based were also reported to the council.
The Council made the necessary decisions and recommendations on these topics.
