Hanoi:The Council of Economic and Development Affairs recently conducted a meeting via videoconference to review several key reports on economic and strategic developments. The Ministry of Economy and Planning presented its monthly report, which highlighted significant global economic trends, including rising inflationary pressures and tighter monetary policies by major central banks. These global factors have implications for the Saudi economy, presenting both opportunities and challenges.
Accourding to Saudi Press Agency, the council examined the Saudi economy's resilience and strength, noting an increase in private-sector activity evidenced by the Purchasing Managers' Index rising to 53.8 points in August 2026. This marks the fifth consecutive month of growth despite regional tensions. Additionally, the Business Confidence Index increased to 56.7 points, indicating optimism about the national economy's growth prospects.
The Strategic Management Office presented a report on the performance of Vision Realization Programs and national strategies for the second quarter of 2026. This report reviewed the transformative efforts of the past decade and highlighted the progress made towards achieving the vision's goals of creating a vibrant society, a thriving economy, and an ambitious nation. The report underscored significant developments demonstrating the vision's adaptability to changing circumstances.
The council also reviewed the annual report of the Quality of Life Program Center, which detailed the program's achievements in 2025. The program exceeded its targets by contributing 44% to local content and SAR78 billion to the gross domestic product, surpassing expectations. The initiatives have played a crucial role in supporting the national economy and advancing the objectives of Saudi Vision 2030.
Furthermore, the council examined the 2025 annual report of the Citizen Account Program. This report outlined the program's efforts to provide financial support to eligible families and individuals. Since its inception, the program has distributed approximately SAR262 billion to around 2.4 million beneficiaries, reflecting its importance in enhancing the social protection system.
The National Center for Performance Measurement (Adaa) presented a quarterly report on the performance of public entities, focusing on government entities' Saudi Vision 2030 indicators and initiatives. The center remains committed to measuring national strategies' performance, reviewing strategic documents, and ensuring comprehensive coverage of strategic objectives.
The council also addressed procedural matters, including the justice sector development strategy and the draft clinical studies law. Additionally, it reviewed monthly and quarterly reports on economic indicators such as the Consumer Price Index, Wholesale Price Index, and foreign trade, making necessary decisions and recommendations.