Council of Economic and Development Affairs Reviews Economic Outlook and Budget Performance

The Council of Economic and Development Affairs held a virtual meeting to review recent economic developments and key legislative proposals, the Saudi Press Agency reported.

At the start of the session, the council examined a quarterly report submitted by the Ministry of Economy and Planning. The report outlined trends in the global economy and assessed the impact of geopolitical tensions and volatility in international markets on growth prospects.

It also detailed developments in the national economy and provided projections through 2027. According to the report, the Kingdom has demonstrated resilience in confronting global challenges. Economic indicators and statistical data point to strong growth, reinforcing Saudi Arabia’s standing among the world’s fastest-growing and most stable economies.

The council also reviewed the fourth-quarter performance report of the state’s general budget for fiscal year 2025, submitted by the Ministry of Finance. The document presented an overview of revenues, expenditures and public debt levels, alongside an analysis of domestic and global economic factors and their implications for fiscal performance.

Findings indicated the continued implementation of a balanced and flexible fiscal policy aimed at supporting economic growth while safeguarding financial sustainability over the medium and long term. The report highlighted the use of disciplined fiscal tools and the continuation of countercyclical spending focused on development programmes and projects with economic and social impact. These measures are intended to enhance public services, encourage investment and strengthen public finances.

During the meeting, council members discussed several procedural matters, including a draft Government Tenders and Procurement Law and a draft Space Law. They also reviewed steps taken to assign the Council of University Affairs the task of updating governance regulations for public and private universities and health colleges. The assignment includes supervising these institutions, conducting periodic follow-ups and updating compliance processes in line with quality standards approved by the council.

The council was briefed on the quarterly Real Estate Price Index report and received summaries of the monthly Consumer Price Index and Wholesale Price Index reports, along with the supporting data behind those findings.

At the close of the meeting, the council adopted the necessary decisions and recommendations related to the issues discussed.