Riyadh, The Council of Economic and Development Affairs has held a virtual meeting and discussed a number of topics listed on its agenda.
The topics listed on the meeting agenda included the periodic presentation by the Ministry of Economy and Planning regarding local and international economic developments. The presentation included an analysis of the key national and international economic indicators and the challenges facing the global economy.
During the meeting, the council highlighted the efforts exerted and the policies adopted to ensure the availability of commodities at affordable prices in the local market as well as the reduction of monopolistic practices in the private sector.
In addition, the council discussed the latest local credit developments which reflect a strong demand on credit facilities offered to the private and real estate sectors despite the rise in interest rates.
The council also discussed the international financial institutions’ reports that commended the Kingdom’s constant prosperity and growth and its solid economic stability despite the global economic challenges.
Moreover, the council reviewed a presentation by the Public Investment Fund on the progress achieved in the mega projects, including Ad Diriyah, NEOM, Red Sea, and ROSHN. The presentation went over details regarding developments in the projects and timetables and the progress achieved in the realization of the Saudi Vision 2030.
Additionally, the council welcomed the announcement of the opening of the first phase of the Red Sea Project and the commencement of the first flights from the Red Sea International Airport through the temporary terminal.
The council has also followed up on a report submitted by the Project Management Office at the Secretariat of the Economic and Development Affairs Council on the decisions and recommendations issued by the council on the 3rd quarter of 2023, which included statistics on the levels of progress in implementing the duties and performing the tasks by the agencies representing the council. The report indicated a rise in the level of achievement during Q3 of this year compared with Q2 of the same year with committees’ achievement exceeding 98% in performance indicators.
The council has then taken the necessary decisions and recommendations regarding these topics.
Source: Saudi Press Agency