Council of Economic and Development Affairs holds virtual meeting

29/01/2026 05:51 AST

The Council of Economic and Development Affairs held a meeting via video conference.

The council reviewed the monthly report submitted by the Ministry of Economy and Planning, which covered developments in the global economy and its growth outlook for 2026 amid ongoing challenges, the potential impacts on the national economy, and its capacity to adapt to global economic changes.

The report highlighted positive trends reflected in various economic and financial indicators, including the GDP growth driven by the continued rise of non-oil activities, recovery of oil activities, industrial production growth, and the stability of the inflation rate, supported by government measures to regulate real estate prices and achieve balance in the real estate market.

While reviewing a number of procedural matters, the council approved the conclusion of the Privatization Program after it had completed its work and initiatives.

The council reviewed the program's performance and achievements, which strengthened the role of the private sector, improved the operational efficiency of government assets, and developed an investment-attractive legislative environment through the adoption of relevant laws and regulations, thereby supporting economic diversification and enhancing the Kingdom's competitiveness.

The conclusion of the Privatization Program comes as part of the transition from the establishment phase completed by the program to the implementation phase and the maximization of impact through the adoption of the National Privatization Strategy, which reviewed targets, developing various opportunities, and developed a comprehensive national framework for identifying opportunities across priority sectors.

The council also reviewed a presentation by the Office of Project Management at the Secretariat of the Council of Economic and Development Affairs on the follow-up of decisions and recommendations issued by the council during the fourth quarter of 2025, reflecting its commitment to monitoring the progress of entities in fulfilling assigned tasks and mandates. The presentation provided a detailed overview of the follow-up on council decisions and recommendations, outputs of the council among represented entities, and detailed statistics on achievement levels.

The council was also briefed on the monthly executive summary of the Foreign Trade Indices Bulletin, the quarterly executive summary of the GDP and National Accounts Bulletin, and two summaries of the monthly reports on the Consumer Price Index and Wholesale Price Index, as well as the core reports on which these summaries were based.

The council took the necessary decisions and recommendations on these matters.

Arab News