RIYADH: Saudi Arabia’s Council of Economic and Development Affairs on Sunday reviewed the Kingdom’s quarterly economic performance and discussed the global economy.
The meeting, held virtually, praised the strong growth rate of the Kingdom and the decline in the rate of inflation to 2.7 percent.
In addition to a review of key national reports during the meeting, a presentation was also given on global economic developments.
The council also discussed the quarterly report submitted by the Finance Ministry reviewing the state general budget performance of 2023. The meeting also reviewed the progress made toward achieving Vision 2030 objectives. The council was informed that the Vision 2030 programs helped boost the Kingdom’s non-oil activities by 13 percent to SR135 billion ($36 billion) in the second quarter of 2023.
The council also made several recommendations on different economic matters.
