The Council for Economic and Development Affairs held a virtual meeting to review the quarterly economic report provided by the Ministry of Economy and Planning. The report highlighted key developments in the global economy, economic growth prospects, and in-depth analysis of factors driving and challenging national economic growth across various sectors. It also focused on the positive performance of the economy in the third and fourth quarters of 2024, as well as future projections from local and international sources.
The council discussed the fourth quarter report on the general state budget performance for the fiscal year 2024, presented by the Ministry of Finance. The report detailed financial performance during the period, revenue and expenditure indicators, and public debt, noting a 21% increase in non-oil revenues to 132 billion Saudi riyals compared to 109 billion riyals in 2023. The report confirmed the effectiveness of government efforts and reforms in diversifying the national economy, enhancing non-oil activities in line with the Kingdom’s Vision 2030, supporting developmental and service projects, and strengthening social care and protection systems.
Furthermore, the council reviewed the outcomes of the Kingdom’s delegation participation in the annual World Economic Forum in Davos, Switzerland in 2025, showcasing the Kingdom’s leading position as one of the world’s largest economies due to continued progress towards Vision 2030 targets.
The council also examined various presentations related to policies, studies, and administrative regulations, including guidelines for green investments from the National Committee for Investment, and the organizational structure and guidelines for the Ministry of Media. Additionally, the council discussed a presentation from the General Authority for Statistics on import substitution indicators, summaries of the monthly reports on consumer and wholesale price indexes, the monthly executive summary of foreign trade for 2024, and the underlying reports for these summaries.
Decisions and recommendations were made by the council regarding these topics.
