During its meeting on Wednesday, the Economic Affairs Council reviews a report "Economy" Quarterly
View Council of Economic and Development Affairs Quarterly report submitted by Ministry of Economy and Planning, which included developments The global economy and the impact of geopolitical challenges and fluctuations in global markets on global growth prospects. The report also addressed the latest developments related to the national economy and future expectations until 2027, highlighting the high flexibility it enjoys in the face of global challenges, and the remarkable growth indicated by various statistics and economic indicators that consolidates the Kingdom’s position among the fastest growing and most stable economies in the world.
This came during the Council’s meeting on Wednesday via video conference.
Continued adoption of A balanced and flexible financial policy
The Council reviewed the performance report on the state’s general budget for the fourth quarter of the fiscal year 2025, submitted by the Ministry of Finance, which included a comprehensive presentation of financial performance during the period, including developments in revenues and expenditures, levels of public debt, and an analysis of local and global economic variables and their impact on financial indicators.
The results of the report showed the continued adoption of a balanced and flexible financial policy that supports economic growth and enhances financial sustainability in the medium and long term, by employing tools Disciplined and efficient finances, and continuing counter-cyclical spending, while directing it towards development programs and projects that have an economic and social impact, which contributes to improving the quality of public services, stimulating investment, and consolidating the strength of public finances.
Government Competition and Procurement System
The Council discussed a number of procedural transactions, including the draft Government Competition and Procurement System, the Space System Project, and a briefing on what was done regarding the assignment of the University Affairs Council to update the systems. necessary for the governance, supervision and periodic follow-up of public and private universities and health colleges, and updating the compliance processes in public and private universities and health colleges based on the quality standards approved by the University Affairs Council.
The Council was also informed of the results of the quarterly report on the real estate price index, and two summaries of the two monthly reports of the consumer price index and wholesale prices, and the basic reports on which the summaries were based.
The Council took the necessary decisions and recommendations regarding these issues.
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