Saudi Economic Council reviews growth as Vision 2030 advances

02/10/2025 03:05 AST

The Council of Economic and Development Affairs held a video conference to review a series of key economic and strategic reports.

The council examined the Ministry of Economy and Planning's periodic report, which assessed the global economy, including forecasts for trade volume in 2025, performance trends in major economies, and ongoing external challenges to the Kingdom.

The report affirmed the continued resilience and diversification of Saudi Arabia's economy in line with Vision 2030, noting a recovery in non-oil activities, which now account for 56 percent of gross domestic product, and highlighting sustained private-sector growth.

The council also reviewed the Strategic Management Office's quarterly update on Vision 2030 realization programs and national strategies for the second quarter. The report showcased achievements across national plans, performance indicators, and future aspirations, underscoring steady progress under Vision 2030's three core pillars: a vibrant society, a thriving economy, and an ambitious nation.

The council reviewed the second-quarter performance report of public agencies, submitted by the National Center for Performance Measurement, also known as Adaa. The report outlined efforts to support and empower government bodies in achieving Vision 2030 goals, presented overall results of national strategies, and included data on beneficiary satisfaction with government services, as well as future aspirations and planned steps.

A joint presentation by the Saudi Halal Center and the Halal Products Development Co. highlighted progress in the halal sector, including its size, key achievements, development pathways, targeted sub-sectors, and proposed solutions to challenges.

The council also reviewed other agenda items, among them a semi-annual update from the National Center for Privatization and PPP on supervisory committee reports, along with annual summaries from the Quality of Life Program Center and the Digital Content Council.

The council also reviewed a range of policy and procedural matters, including unified Gulf Cooperation Council rules to empower persons with disabilities and intellectual property initiatives covering patents, utility models, plant varieties, integrated circuit layouts, and design systems.

It was also briefed on the annual report of the Citizen Account Program and received executive summaries on key economic indicators such as GDP and national accounts, foreign trade, the Consumer Price Index, and wholesale prices, along with the underlying reports.

The council concluded by adopting the necessary decisions and recommendations on these matters.

Arab News